Accell UK and Ireland, part of the Netherlands-based Accell Group, filed a notice of intention to appoint administrators as the wider group kick-started insolvency proceedings.
The company bought Raleigh in 2012 for around 100 million US dollars (£74 million), adding to its roster of bike brands throughout Europe including Haibike, Winora and Ghost.
The 139-year-old British bikemaker was founded in Nottingham in 1887 and became well-known for its Chopper model, which featured extended handlebars and is now part of its “retro” range.
Raleigh was bought by the Netherlands-based Accell Group in 2012. (Image: PA)
Chief executive of Accell Group, Jonas Nilsson, said: “This is a deeply sad and frustrating situation…