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KKR-backed Accell enters Dutch insolvency process

privateequitywire

1 month ago

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Accell Group has entered a Dutch insolvency process after the bicycle manufacturer ran out of cash to meet its debt obligations, marking the latest setback for KKR’s high-profile €1.6bn bet on the pandemic-era cycling boom, according to a report by Bloomberg.
The owner of brands including Raleigh, Lapierre and Ghost has been granted a suspension of payments by a Dutch court. The process gives the company protection from creditors while it seeks to negotiate a solution and avoid liquidation.
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