Raleigh owner starts insolvency proceedings
The parent company of the iconic British bicycle manufacturer Raleigh, Accell, has entered insolvency proceedings. The company cited an inability to meet financial obligations after years of restructuring and market difficulties.
Why it matters
This marks the decline of a historic manufacturing brand, reflecting broader economic challenges within the cycling and retail industries.
Image source, PA Media Image caption, Raleigh created the famous Chopper and was once the biggest bike maker in the world
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 Image caption, 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.
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