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Raleigh owner Accell Group enters insolvency proceedings
['Amy Ingham', 'Amy Ingham Is A Reporter At Business Matters', 'Covering Uk Business News With A Focus On Breaking News', 'Business Policy', 'Late Payments', "Insolvency. She Joined The Magazine In After Completing The Nctj Diploma In Journalism At Harlow College'S Journalism School. Her Recent Reporting Includes British Steel'S Nationalisation", 'Its Impact On Sme Suppliers', 'The Decline In Late Payments Large Firms', 'Insolvency Service Director Disqualifications. Reach Her At Aingham Cbmeg.Co.Uk.']
Business Matters
Accell Group, the Dutch owner of Raleigh bicycles, has entered court-supervised insolvency proceedings in the Netherlands after takeover talks collapsed, while Accell UK and Ireland has filed a notice of intention to appoint administrators.
A prospective takeover by the Singapore-based DuTech Group fell through recently, despite the deal having received regulatory approvals in Germany, Austria and Poland.
KKR, the US private equity firm, acquired Accell in 2022 for €1.56 billion, using a mix of equity and debt.
In January, Accell sold its titanium specialist brand Van Nicholas to the Italian manufacturer Velo-ce.
She added that insolvency proceedings did not necessarily mean Raleigh would disappear, as valuable brands could be sold, restructured or continue trading under new ownership.