October 16, 2026 - Global bicycle company Accell Group, based in Heerenveen, the Netherlands, and owner of the Raleigh, Lapierre, and Ghost brands, among others, has been declared bankrupt by the Amsterdam district court.

The new ruling supersedes a recent suspension-of-payments order dated August 5, which granted Accell some protection from creditors.

The company also owns Batavus, Sparta, Koga, Haibike, Winora, Babboe, and other brands, and employs about 2,000 people across 15 countries. It began experiencing financial woes after the COVID-19 pandemic, which left the company with large stocks of unsold bicycles and also triggered a large-scale recall of Babboe cargo bikes.

Accell was acquired in 2022 by an investor group led by U.S.-based KKR for approximately EUR 1.56 billion. In 2024, the company reached an agreement with shareholders, banks, and other financiers to write off part of its debt. In February 2026, Accell agreed to new terms with creditors, who were part of a new ownership group, to secure the company’s future, under which KKR handed over control of the business to them.

Quanta Capital, a Dublin-based investment and asset management firm, along with others, has expressed interest in acquiring Accell Group.

Meanwhile, subsidiary brands, including French manufacturer Lapierre Cycles, have entered receivership, leaving the company six months to secure long-term financing. Raleigh and the German brands Ghost and Haibike are also seeking external investors.