Accell, owner of Raleigh, files for insolvency after years of losses

Accell, the Netherlands-based group that acquired the iconic British bicycle brand Raleigh for $100 million in 2012, confirmed on Wednesday that it is commencing insolvency proceedings because it has exhausted all available options and cannot meet its financial commitments. The move follows a difficult stretch for Raleigh that saw redundancies in 2024 and a reported £30 million loss in the subsequent accounts. Chief executive Jonas Nilsson called the development a deeply sad and frustrating situation, emphasizing that the firm had tirelessly examined every realistic future scenario without finding a viable solution.

He added that the immediate priority is to support an orderly process, provide clarity where possible, and work with court-appointed administrators to safeguard any viable activities and employment. Raleigh, founded in Nottingham in 1887 and once the world’s largest bike producer employing about 8,000 people, stopped manufacturing in the city decades ago and vacated its Church Street headquarters in Eastwood in 2024, relocating to a nearby site. The insolvency filing marks a significant turning point for the historic brand.