The trustees in the bankruptcy case involving Dutch bicycle manufacturer Accell Group are exploring the sale of individual bike brands or the whole business.
The Amsterdam District Court declared Accell bankrupt on Tuesday, August 11, ending the insolvency protection the company was granted a week earlier. Accell’s portfolio of brands includes Raleigh, Batavus, Sparta, Babboe, Koga, Haibike, Winora, Ghost, Lapierre, Carqon, and XLC.
According to NL Times, administrators said Friday they are focusing on “continuing Accell’s activities where possible, so that dealers can place orders again as before, and deliveries can resume.” The statement continued, “With this as a starting point, a fast and efficient international sales process will be initiated.”
The trustees stated they have the support of a group of secured creditors, some of whom have already entered into a form of a minimum agreement with an unnamed interested party.`The Irish investment firm Quanta Capital has already publicly expressed interest in Accell.
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 has taken significant steps to improve its financial performance, including closing its last Dutch factory in Heerenveen in summer 2025. The company has around 2,000 employees across 15 countries.
Image courtesy Ghost Bikes / Stories
