Nottinghamshire firm Raleigh is set to enter administration after the Dutch company that owns the iconic brand announced it could not solve its financial problems.
The bike manufacturer, which was once the world’s largest and helped define the 1970s with its iconic Chopper models, was established in 1887 in Nottingham.
It was hard to spot a child in the streets in the 1970s who didn’t have the famous Raleigh Chopper.
Raleigh was purchased by Netherlands-based Accell Group for around €60 million in 2012. It was renamed Accell UK & Ireland Ltd last year.
Yesterday, Accell – which is one of Europe’s largest bike sellers – said that despite extensive efforts to restructure, it had not found a viable way to continue operations.
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A Notice of Intention to appoint an administrator was filed on the same day, stating a company’s intention to appoint administrators in an attempt to save the business from liquidation.
How do you feel about the news of Raleigh potentially entering administration?
- Sad, Raleigh is an iconic brand with a rich history.
- Indifferent, business changes are part of modern economy.
- Optimistic, I hope this situation can be resolved positively.
The measure helps businesses by temporarily halting existing or pending creditor action, giving the business 10 days of protection so it can look at 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.
‘It is an especially difficult moment for our employees, creditors, customers, suppliers, and partners.
‘Every realistic option for the future of the business has been tirelessly explored, and none have resulted in a solution to continue the group in its current form.’
The group added it would share more information once it becomes available. The Nottingham Post has approached Accell for comment on what the move will mean for its Nottinghamshire employees and the Raleigh brand.
While Raleigh was once an industrial behemoth, recent redundancies and its parent firm’s restructurings have taken a toll.
Accell UK & Ireland recorded a loss before tax of more than £30 million in its most recent financial accounts – which cover 2023 – and at that time the company employed an average of 130 people.
At its peak in the 1970s, Raleigh employed 13,000-plus people nationwide, including about 8,000 staff based on numerous sites in Triumph Road.
This later became the University of Nottingham’s Jubilee Campus and the business moved to a new headquarters in Church Street, Eastwood, before closing this base and relocating to Durban House in 2024.
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