Owner of bike maker Raleigh files for insolvency
Image source, PA Media
Raleigh created the famous Chopper and was once the biggest bike maker in the world
ByLiam Barnes
East Midlands
The company that owns iconic Nottingham bike manufacturer Raleigh has begun insolvency proceedings.
Accell, based in the Netherlands, bought Raleigh for $100m in 2012 but said on Wednesday it had "exhausted all the available options" and was "no longer able to meet its financial obligations".
It comes after a difficult period for Raleigh, which saw redundancies in 2024 and losses of £30m in accounts released the following year.
Jonas Nilsson, chief executive of Accell, said it was "a deeply sad and frustrating situation".
Image source, PA Media
The Raleigh Chopper became famous for its extended handlebars
Raleigh was founded in Nottingham in 1887 and at one stage was the biggest bicycle maker in the world, employing about 8,000 people at its peak.
It was sold to Accell in 2012 to join its roster of European bike brands, including Haibike, Winora and Ghost.
Having stopped making bikes in the city decades ago, the firm vacated its headquarters on Church Street in Eastwood in 2024 to move to new premises less than a mile away.
Accell went through a restructuring in February, securing additional funding from shareholders and lenders, and reducing debts.
Image source, Raleigh
Raleigh moved to its new headquarters in Nottinghamshire in 2024
Announcing plans to initiate insolvency proceedings, Nilsson said the company had worked "to restructure [its] operations and finances".
"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," he said.
"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."
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Accell, based in the Netherlands, has owned the famous bike brand since 2012
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Image source, PA Media
Raleigh created the famous Chopper and was once the biggest bike maker in the world
ByLiam Barnes
East Midlands
The company that owns iconic Nottingham bike manufacturer Raleigh has begun insolvency proceedings.
Accell, based in the Netherlands, bought Raleigh for $100m in 2012 but said on Wednesday it had "exhausted all the available options" and was "no longer able to meet its financial obligations".
It comes after a difficult period for Raleigh, which saw redundancies in 2024 and losses of £30m in accounts released the following year.
Jonas Nilsson, chief executive of Accell, said it was "a deeply sad and frustrating situation".
Image source, PA Media
The Raleigh Chopper became famous for its extended handlebars
Raleigh was founded in Nottingham in 1887 and at one stage was the biggest bicycle maker in the world, employing about 8,000 people at its peak.
It was sold to Accell in 2012 to join its roster of European bike brands, including Haibike, Winora and Ghost.
Having stopped making bikes in the city decades ago, the firm vacated its headquarters on Church Street in Eastwood in 2024 to move to new premises less than a mile away.
Accell went through a restructuring in February, securing additional funding from shareholders and lenders, and reducing debts.
Image source, Raleigh
Raleigh moved to its new headquarters in Nottinghamshire in 2024
Announcing plans to initiate insolvency proceedings, Nilsson said the company had worked "to restructure [its] operations and finances".
"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," he said.
"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."
Tell us which stories we should cover in Nottingham
Read the full story at BBC ↗
Image source, PA Media
Raleigh created the famous Chopper and was once the biggest bike maker in the world
ByLiam Barnes
East Midlands
The company that owns iconic Nottingham bike manufacturer Raleigh has begun insolvency proceedings.
Accell, based in the Netherlands, bought Raleigh for $100m in 2012 but said on Wednesday it had "exhausted all the available options" and was "no longer able to meet its financial obligations".
It comes after a difficult period for Raleigh, which saw redundancies in 2024 and losses of £30m in accounts released the following year.
Jonas Nilsson, chief executive of Accell, said it was "a deeply sad and frustrating situation".
Image source, PA Media
The Raleigh Chopper became famous for its extended handlebars
Raleigh was founded in Nottingham in 1887 and at one stage was the biggest bicycle maker in the world, employing about 8,000 people at its peak.
It was sold to Accell in 2012 to join its roster of European bike brands, including Haibike, Winora and Ghost.
Having stopped making bikes in the city decades ago, the firm vacated its headquarters on Church Street in Eastwood in 2024 to move to new premises less than a mile away.
Accell went through a restructuring in February, securing additional funding from shareholders and lenders, and reducing debts.
Image source, Raleigh
Raleigh moved to its new headquarters in Nottinghamshire in 2024
Announcing plans to initiate insolvency proceedings, Nilsson said the company had worked "to restructure [its] operations and finances".
"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," he said.
"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."
Tell us which stories we should cover in Nottingham
Read the full story at BBC ↗
This lens runs the verified story through Cinnamon's AI — wired in the next step.
- Accell, based in the Netherlands, has owned the famous bike brand since 2012