Raleigh bike brand faces chop after owner begins insolvency proceedings

Historic Raleigh bike owner Accell Group begins insolvency after buyer search fails, creating uncertainty for the iconic cycling brand's future.

A Raleigh Chopper bicycle, a cultural icon of the 1970s

The bicycle company that owns the historic Raleigh brand has started insolvency proceedings after failing to find a buyer.

The Netherlands-based Accell Group said on Wednesday it had called in administrators after it failed to find a viable solution to continue its operations in their current form.