Accell Group files for bankruptcy, impacting major bike brands

The Accell Group, a major European bicycle manufacturer, has filed for bankruptcy following a failed attempt to secure fresh investment and a failed sale process. The group, which is majority-owned by the US investor KKR, includes prominent brands such as Batavus, Sparta, Koga, Raleigh, Lapierre, Haibike, Winora, and Ghost.

In Germany, the court in Schweinfurt has ordered insolvency proceedings under self-administration for the German holding company and its subsidiaries, Winora Staiger GmbH, Ghost Bikes GmbH, and Engelbert Wiener Bike-Parts GmbH. These German entities employ approximately 370 people and reported a 2025 turnover of 340 million euros. Management aims to find an investor to decouple these German operations from the struggling international group.

The financial crisis is attributed to a post-pandemic slowdown in the bicycle boom, leaving the company with excessive inventory, alongside previous supply chain disruptions and a large-scale recall of Babboe cargo bikes due to frame issues. In the Netherlands, the bankruptcy affects approximately 340 employees across locations including Amsterdam, Heerenveen, and Apeldoorn. Curators are currently investigating potential restarts and seeking to maintain business operations to preserve value.