12/08/2026
The Dutch group that owns Raleigh, Lapierre, Haibike, Ghost, Batavus and eleven other cycling brands has run out of financial runway. Accell Group was granted a suspension of payments by a Dutch court on 5 August, a form of insolvency that gives the company court-supervised time to restructure rather than trade its way out. Its UK and Ireland subsidiary, which houses Raleigh, has filed a notice of intention to appoint administrators.
The collapse follows a €1.8 billion buyout led by KKR in 2022, timed to the pandemic-era cycling boom that never materialised into sustained demand. Two debt restructurings have already been carried out inside eighteen months. In October 2024, creditors cut the debt from around €1.4 billion to €800 million. In February 2026, KKR handed control to Accell's supersenior lenders in exchange for fresh funding, a deal specifically designed to prevent this outcome. Headcount has fallen from more than 3,500 to around 2,000 across fifteen countries.
Raleigh was bought by Accell in 2012 for around €100 million. It reported €30 million in losses in accounts released last year and has already been through redundancies in 2024. CEO Jonas Nilsson said every realistic option for the future of the business has been tirelessly explored. What the industry is watching now is not whether Accell survives in its current form, because it will not. The question is which brands get bought, which get wound down, and how many dealers absorb the cost.
