Raleigh owner starts insolvency proceedings
Accell, based in the Netherlands, has owned the famous bike brand since 2012.
The company that owns Raleigh, the renowned Nottingham-based bicycle manufacturer responsible for the iconic Chopper and once the world's largest bike producer, has initiated insolvency proceedings.
Accell, the Netherlands-based owner, acquired Raleigh for $100 million in 2012. However, on Wednesday, the company declared it had "exhausted all the available options" and was "no longer able to meet its financial obligations."
This development follows a challenging period for Raleigh, which included job cuts in 2024 and reported losses of £30 million in financial statements released the subsequent year. Jonas Nilsson, Accell's chief executive, described the situation as "a deeply sad and frustrating situation."
Raleigh, established in Nottingham in 1887, once held the title of the world's largest bicycle manufacturer, employing approximately 8,000 individuals during its peak. The company ceased bike production in the city decades ago, and in 2024, it relocated from its Church Street headquarters in Eastwood to new premises less than a mile away.
In announcing the plans to commence insolvency proceedings, Nilsson stated that Accell had been working "to restructure [its] operations and finances." He added, "Every realistic option for the future of the business has been tirelessly explored, and none have resulted in a solution to continue the group in its current form."
Nilsson further commented, "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."