Raleigh owner starts insolvency proceedings

Accell, the Netherlands-based company that has owned the 139-year-old bikemaker Raleigh since 2012, has officially filed for insolvency. The boss of Accell Group described the current state of affairs as a deeply sad and frustrating situation. This legal process follows the company's long-term ownership of the famous bike brand, marking a significant turning point for the organisation as it navigates these insolvency proceedings amidst the challenges facing the business and its leadership.