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Raleigh Owner Files for Administration Putting 139-Year-Old British Bikemaker at Risk
The move could protect the business for 10 days as it seeks rescue options after posting a loss before tax of more than £30 million in 2023.
- On Wednesday, August 5, Netherlands-based Accell Group initiated insolvency proceedings, while its Eastwood-based subsidiary Accell UK & Ireland Ltd filed a notice of intention to appoint administrators.
- Nottinghamshire-Based Raleigh, founded 139 years ago, struggled following losses exceeding £30 million in 2023, compounded by job cuts in 2024 despite restructuring efforts.
- Parent company Accell Group, purchased by private equity firm KKR for £1.56 billion in 2022, manages European brands including Lapierre, Haibike, and Ghost alongside Raleigh.
- CEO Jonas Nilsson stated the firm has "exhausted all the available options" and is "no longer able to meet its financial obligations," calling it a "deeply sad and frustrating situation."
- The filing provides 10 days of protection from creditors, enabling management to work with court-appointed administrators and "support an orderly process" to preserve viable business activities.
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Chester Standard+8 Reposted by 8 other sources
Raleigh owner files for administration putting 139-year-old British bikemaker at risk
Accell UK and Ireland (part of the Netherlands-based Accell Group), which is responsible for British bikemaker Raleigh, has filed for administration.
·Chester, United Kingdom
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Raleigh Bicycle Brand Starts Insolvency Proceedings
[Image: Matt Trev / Facebook] Raleigh, the bike name that lived in half the childhood garages of the English-speaking world, is now waiting to see what administrators do with it. Accell Group, the Netherlands-based owner of Raleigh, announced on 5 August that suspension of payments had been granted to its Dutch entities after it failed to find a viable way to keep operating in its current form. For South Africans who grew up wobbling around the …
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Total News Sources27
Leaning Left5Leaning Right1Center15Last UpdatedBias Distribution71% Center
Bias Distribution
- 71% of the sources are Center
71% Center
L 24%
C 71%
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