Raleigh, the iconic Nottinghamshire bike manufacturer, is set to enter administration after its Dutch owner, Accell Group, announced it could not resolve the company's financial problems. The firm, once the world's largest bike maker and famous for its 1970s Chopper models, was established in Nottingham in 1887.
Financial Struggles and Restructuring Efforts
Accell Group, which purchased Raleigh for around €60 million in 2012, said that despite extensive restructuring efforts, no viable way to continue operations was found. The company was renamed Accell UK & Ireland Ltd last year. A Notice of Intention to appoint an administrator was filed the same day, a measure that temporarily halts creditor action and provides 10 days of protection to explore rescue options.
Jonas Nilsson, CEO of Accell Group, said: 'This is a deeply sad and frustrating situation given all the hard work and everything we have achieved, with the support of shareholders and lenders, to restructure Accell's operations and finances.' He added: 'It is an especially difficult moment for our employees, creditors, customers, suppliers, and partners.'
Impact on Employees and Brand
The group stated that every realistic option had been explored, but none resulted in a solution to continue the group in its current form. Accell UK & Ireland recorded a loss before tax of more than £30 million in its most recent financial accounts for 2023, when it employed an average of 130 people. At its peak in the 1970s, Raleigh employed over 13,000 people nationwide, including about 8,000 at its Triumph Road site, which later became the University of Nottingham's Jubilee Campus.
The business moved to new headquarters in Church Street, Eastwood, before relocating to Durban House in 2024. The Nottingham Post has approached Accell for comment on what the move will mean for Nottinghamshire employees and the Raleigh brand. The group said it would share more information once available.
