Raleigh's Parent Company Enters Insolvency Proceedings
Accell, which acquired the iconic British bicycle manufacturer in 2012, cites exhaustion of options and inability to meet financial obligations.
Accell, the Dutch parent company of historic bicycle maker Raleigh, has initiated insolvency proceedings, stating it has "exhausted all the available options" and can "no longer meet its financial obligations." The announcement comes after a challenging period for Raleigh, which experienced redundancies in 2024 and reported losses of £30 million in accounts released the following year.
Jonas Nilsson, chief executive of Accell, described the situation as "deeply sad and frustrating." Raleigh, founded in Nottingham in 1887, was once the world's largest bicycle manufacturer, employing approximately 8,000 people at its peak. Although the company ceased manufacturing in Nottingham decades ago, it recently relocated its headquarters within Eastwood. Nilsson indicated that Accell had actively sought to "restructure [its] operations and finances," exploring "every realistic option for the future of the business" without success.
"Our immediate focus is to support an orderly process, provide clarity wherever possible, and work with the relevant court-appointed administrators to preserve viable activities and employment where circumstances allow," Nilsson added. Accell purchased Raleigh for $100 million in 2012.