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The Guardian - UK

Business

Jasper Jolly

Raleigh bike brand faces chop after owner begins insolvency proceedings

Raleigh Accell Accell Group KKR Netherlands

Joshua Bridges' leg in a rainbow sock and red sneaker rests on a purple Raleigh Chopper pedal — A vintage Raleigh Chopper. Accell’s insolvency proceedings come four years after a €1.4bn buyout led by the US private equity firm KKR. Photograph: Christopher Thomond/The Guardian

The bicycle company that owns the historic Raleigh brand has started insolvency proceedings after failing to find a buyer.

The Netherlands-based Accell Group said on Wednesday it had called in administrators after it failed to find a viable solution to continue its operations in their current form.

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