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Accell, which also owns Lapierre, Babboe, and a host of other bike and e-bike brands, says it has secured new financial backing as part of its latest restructuring process, which it claims will “fundamentally transform the business”
Christmas is nearly here, and Steve has been dreaming of fantasy bikes of old; some he once rode, others he watched in awe from the roadside as a kid, some he’s never set eyes on. Here’s his Christmas dream bike list
The British bike manufacturer was reported to be dependent on “non withdrawal of existing funding and additional financial support” from parent company Accell Group, which itself posted a loss of €390 million in 2023
“On Monday I’m going to walk down to the shop and it’ll be weird without people beeping their horns and waving, and me waving back,” McGuinness said after arriving in Glasgow on Friday morning
Accell Group has reportedly reached an agreement to reduce its debt by €600 million
Raising money for Children in Need's 2024 appeal, the BBC Radio 2 presenter will ride the iconic Chopper from Wrexham to Glasgow over five days
“Raleigh’s rich heritage is deeply intertwined with Eastwood, making it essential for us to stay connected to our local roots,” the company said as it announced its move to Durban House
Late financial accounts meant the iconic bike brand — which has made redundancies in recent times — risked being struck off the register, a late filing that has seemingly been addressed as parent company Accell took the blame
According to Fitch Ratings, which has downgraded Accell Group’s rating to CCC-, the company’s “weak operating performance, tight liquidity, and negative free cash flow results in unsustainable credit metrics”
Redundancies will affect Accell Group's Netherlands-based workforce, with two facilities to merge and some production relocated to Hungary and Turkey