Accell, the Dutch company that owns Nottingham bike manufacturer Raleigh, has begun insolvency proceedings. Accell said this week it had "exhausted all the available options" and was "no longer able to meet its financial obligations."
Accell acquired Raleigh for $100million in 2012. The fate of the Raleigh brand will now be decided by administrators.
Raleigh confirmed a loss of £30.1million before tax in 2023 in its annual financial statement, published in January 2025. That compares with losses of £6.8million in 2022.
Recent restructuring and job cuts
Raleigh previously confirmed redundancies in Nottingham in 2024, following a review of the company at the end of 2023. The firm also left its headquarters on Church Street in Eastwood to move to new premises.
Accell itself underwent a restructuring in February 2026, securing additional funding from shareholders and lenders and reducing its debts. Accell was bought in 2022 in a £1.2billion buyout by the US private equity firm KKR.
A storied history
Raleigh was founded in 1887 and grew to become the largest bike manufacturer in the world. At its peak, the company made 1million bikes a year at its factory in Nottingham and employed more than 8,000 people.
Raleigh created the popular Chopper bike, featuring extended handlebars and a seat with a backrest, in the 1970s.
Chief executive's statement
Jonas Nilsson, chief executive of Accell, called the situation "a deeply sad and frustrating situation." He said it was "an especially difficult moment for our employees, creditors, customers, suppliers, and partners."
Nilsson said every realistic option for the future of the business had been "tirelessly explored," and none had resulted in a solution to continue the group in its current form. He said the company's immediate focus was to support an orderly process, provide clarity wherever possible, and work with court-appointed administrators to preserve viable activities and employment where circumstances allow.
Accell said it had held discussions with several interested potential buyers, scrutinised multiple offers, and looked at getting regulatory approval for a potential merger to help ensure Raleigh stayed viable. European bike and parts makers have come under pressure from Chinese rivals in recent decades, leading to fewer survivors in the sector.
