'We've got an opportunity' – Lapierre Cycles boss hails court decision that offers a post-Accell lifeline
The enduring French brand begins the search for a new investor
Lapierre Cycles, a French manufacturer, has received a potential lifeline following a court hearing in Dijon that occurred after Accell Group, which owns the company as well as Raleigh, was declared bankrupt. Lapierre's general manager, William Perrier, expressed optimism in a LinkedIn post, stating that the court decision granted the company the right and time to fight.
The 20 days since Accell's insolvency proceedings began were used for preparation, managing customers, cash flow, and suppliers. Now, a new phase will begin, focusing on securing a new investor and ensuring the company runs properly. Perrier emphasized the importance of maintaining credibility with investors by processing orders, keeping deliveries, and reassuring customers and suppliers.
Lapierre has been a significant presence in the men's professional cycling world for over two decades, with French stars Thibaut Pinot and Arnaud Démare winning major races on its bikes. The company's women's teams, Picnic PostNL, also ride its machines. Accell Group's Dutch arm declared bankruptcy two weeks ago, and the company's portfolio includes brands like Batavus, Sparta, Koga, Haibike, Winora, Ghost, Babboe, XLC, and Raleigh.
Accell Group has explored every realistic option for the future of the business but found no viable solution to continue operating in its current form. Quanta Capital, an Irish-based investment firm with links to bike racing, has shown interest in purchasing the entire group, which, if successful, could secure a future for Lapierre, Raleigh, and their fellow stablemates.
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