The company behind Raleigh, Haibike and Ghost has entered insolvency proceedings

Accell Group, the Dutch conglomerate that owns Raleigh, Lapierre, Haibike and Ghost, entered insolvency proceedings on Thursday after failing to find a buyer or a path back to solvency. The company was granted a suspension of payments under Dutch law, a formal process for a business no longer able to meet its financial obligations.

From pandemic boom to oversupply

Private equity firm KKR bought Accell for 1.8 billion euro in 2022, at the height of the pandemic bike boom. When that demand did not hold, the industry was left with oversupply and heavy discounting that squeezed margins across the sector. Accell tried to cut costs through a restructuring programme that centralised operations and cut jobs, but it was not enough. Lenders took control of the business earlier this year after a second debt restructuring in twelve months, wiping out KKR's 1.1 billion euro equity investment. A planned sale to Singapore's DuTech Group fell through in July despite competition regulators in Germany, Austria and Poland having already cleared it.

What happens to the brands

It is not yet clear which, if any, of Accell's brands will be sold off, restructured or wound down as the insolvency process plays out. Raleigh has been the most exposed of the group, having already cut jobs in 2024 and reported a loss of around 30 million US dollars in its most recent accounts.

What it means for buyers

Ghost, Haibike, Lapierre and Raleigh have a smaller footprint in Australian bike shops than brands like Giant, Trek or Specialized, but anyone who already owns one of these bikes should check with their local dealer about parts and warranty support while the situation is unresolved. If you are shopping for a new bike or e-bike now, it is a reminder to weigh up a brand's local distributor stability alongside price and spec, something BikeFinder's comparison tools can help with when you are choosing between brands.