Historic bikemaker Raleigh in administration plan woe

The company behind historic bikemaker Raleigh has filed to appoint administrators.

Accell UK and Ireland has started insolvency proceedings.

Bosses say they are “deeply sad” and have “tirelessly explored” every option to secure the cycling business’ future.

The company bought Raleigh in 2012 for around £74 million, adding to its roster of bike brands throughout Europe, including Haibike, Winora and Ghost.

Founded in Nottingham in 1887, Raleigh was well-known for its Chopper model, which featured extended handlebars and is now part of its ‘retro’ range.

It no longer makes bikes from Nottingham and its head office has moved to Eastwood, while the company has shifted to selling electric bikes under Accell’s ownership.

Accell went through a restructuring in February, securing additional funding from shareholders and lenders and reducing debts.

Jonas Nilsson, Accell chief executive, said: “This is an especially difficult moment for 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.”

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