The business that owns iconic Nottingham bike manufacturer Raleigh has begun insolvency proceedings.
Accell, based in the Netherlands, acquired Raleigh for $100million in 2012 but said this week it had ‘exhausted all the available options’ and was ‘no longer able to meet its financial obligations’.
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, against losses of £6.8million in 2022.
Raleigh previously confirmed redundancies in Nottingham in 2024 following a review of the company at the end of 2023 and left its headquarters
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