Dutch bicycle manufacturer Accell Group was declared bankrupt by an Amsterdam court, according to the bankruptcy trustees. The new court order revokes the previous ‘suspension of payments’ that was granted to the Dutch parts of Accell’s business on August 5, 2026.
Court-appointed trustees said the “companies could no longer meet their costs, and that the factory in Hungary, where Accell’s production had recently been centralizd, has also ceased operations.”
According to coverage by the NL Times, trustees state the case is complex because Accell has subsidiaries in several nations, including Raleigh in the United Kingdom and Lapierre in France. The trustees wrote in a court filing, “There is a complex situation within the European Accell Group, with group companies in different countries that are operationally and financially dependent on one another in certain areas. The trustees understand that the factory in Hungary has shut down and that local insolvency proceedings are being opened in various countries.”
Accell was acquired in 2022 by an investor group led by US-based private equity giant KKR. Two years later, the company reached a deal with shareholders, banks and other financiers to have part of its debt written off. In February of this year, Accell agreed to another debt restructuring that resulted in KKR handing over control of the business to lenders.
At the time, Accell said its major lenders agreed to a plan that would reduce Accell’s debt and place it on more stable financial footing. In its statement last week, however, Accell said ownership by lenders “was not intended to be a long-term ownership structure” and it has since been unable to find another buyer.
Accell’s portfolio of brands includes Haibike, Winora, Ghost, Batavus, Koga, Lapierre, Raleigh, Sparta, Babboe, Carqon, and XLC.
Accell has taken significant steps to improve its financial performance, including closing its last Dutch factory in Heerenveen in summer 2025. The company employs around 2,000 across 15 countries.
Image courtesy of Accell Group
