Raleigh bike brand faces chop after owner begins insolvency proceedings

See more This is Money on Google - save us as a Preferred Source Updated: 11:22 EDT, 6 August 2026 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 in Church Street, Eastwood, to move to new premises. Raleigh was founded in 1887 and grew to be the largest bike manufacturer in the world. Downfall of an icon: The fate of Raleigh is now in the hands of administrators At its peak, Raleigh was making 1million bikes a year at its factory in Nottingham and employed more than 8,000 people. Raleigh created the popular Chopper bike, with extended handlebars and seat with a backrest, in the 1970s. Jonas Nilsson, chief executive of Accell, said it was 'a deeply sad and frustrating situation'.Accell underwent a restructuring in February 2026, securing additional funding from shareholders and lenders, and reducing debts. Accell said it had held discussions with several interested potential buyers, scrutinised multiple offers and looked at getting regulatory approval for a potential merger to help ensure Raleigh stayed viable. Nilsson said: 'It is an especially difficult moment for our employees, creditors, customers, suppliers, and partners. 'Every realistic option for the future of the business has been tirelessly explored, and none have resulted in a solution to continue the Group in its current form. 'Our immediate focus is to support an orderly process, provide clarity wherever possible, and work with the relevant court-appointed administrators to preserve viable activities and employment where circumstances allow.'European bike and parts makers have come under pressure from Chinese rivals in recent decades, leading to fewer survivors in the sector. Accell was bought in 2022 in a £1.2billion buyout by the US private equity firm KKR. DIY INVESTING PLATFORMSAJ BellAJ BellEasy investing and ready-made portfoliosHargreaves LansdownHargreaves LansdownFree fund dealing and investment ideasinteractive investorinteractive investorFlat-fee investing from £4.99 per monthFreetradeFreetradeInvesting Isa now free on basic planTrading 212Trading 212Free share dealing and no account feeAffiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.Compare the best investing account for you