Raleigh and Lapierre owner declared bankrupt, potential sale to Irish company on horizon

The owner of British bike company Raleigh and French brand Lapierre, the Accell Group, was declared bankrupt in the Netherlands, according to reports. Insolvency proceedings were initiated last week, leading to the declaration of the Dutch parts of the company as bankrupt this week by an Amsterdam court. Despite the setback, Irish investment firm Quanta Capital has publicly expressed interest in purchasing the entire group.

The bankruptcy trustees noted the complex situation within the European Accell Group, with group companies in different countries being operationally and financially dependent on one another in certain areas. The factory in Hungary has shut down, and local insolvency proceedings have been opened in various countries.

Quanta Capital, a global financial institution, will form a bid with other investors to acquire the group. Their primary objective is to stabilize the group after a tumultuous period of trading. The CEO of Quanta Capital, Mel Sutcliffe, who previously operated Raleigh Ireland, announced that a bid could come as early as next week.

Nottingham-founded Raleigh, once the largest bike company in the world, has its affairs managed by Joint Administrators from FTI Consulting LLP. Lapierre, another brand within Accell's stable, has filed for judicial reorganisation in France, which could enable it to split off from the group and seek new investment. The company supplies bikes to WorldTour team Picnic PostNL.

Lapierre's director general, William Perrier, expressed determination not to let the brand disappear and work towards regaining independence and autonomy.