Dutch court declares Accell bankrupt, casting future of Batavus and Raleigh brands in doubt

A Dutch court in Amsterdam declared bicycle manufacturer Accell bankrupt on Tuesday, according to bankruptcy trustees. Accell owns brands including Batavus, Sparta, Babboe, Koga, Lapierre and Raleigh .
The trustees stated that the bankruptcy affects Dutch Accell entities and creates uncertainty over the future of its brands. They noted a "complex situation" within the European Accell Group, with interdependent companies across multiple countries. The trustees added that Accell’s factory in Hungary has shut down and that local insolvency proceedings are being opened in various countries .
Accell had previously secured a suspension of payments earlier this month, a step that often precedes bankruptcy. The company faced financial difficulties after the coronavirus pandemic left it with excess inventory of unsold bicycles. Additional setbacks included a large-scale recall of Babboe cargo bikes. The trustees said the companies were unable to cover ongoing costs and will attempt to keep Accell operating while exploring a possible restart of parts of Accell Netherlands .
Accell was acquired in 2022 by an investor group led by U.S.-based KKR. In 2024, the company reached a deal with shareholders, banks and other financiers to write off part of its debt. In February 2026, Accell agreed to new terms with creditors, under which KKR handed over control of the business to them. The company had already closed its last Dutch factory in Heerenveen in summer 2025. Accell currently employs around 2,000 people across 15 countries .
Separately, German battery manufacturer Varta filed for insolvency for four of its group companies, including the parent Varta AG and its subsidiary Varta Microbattery, at the end of July. The profitable Varta Consumer Batteries division, known for household batteries, was spun off before the insolvency filing and is not part of the proceedings. Insolvency administrator Tobias Wahl, a lawyer who previously handled cases such as Volocopter and Adler, said the Varta brand plays an important role in the restructuring .
Varta’s financial troubles stem from earlier costly misinvestments and mounting debt, compounded by deteriorating market conditions and reduced demand for consumer electronics. Apple, a major customer, had previously sourced button cells for its AirPods from Varta but switched to a Chinese supplier. Porsche and Austrian entrepreneur Michael Tojner took Varta private, but the new shareholders did not provide additional capital, leading to a "structural financing gap," according to Wahl .
Germany’s Federal Ministry for Economic Affairs has intervened in the search for a buyer for parts of Varta, stating that it is reviewing whether a potential acquisition could affect public order or security under the Foreign Trade Ordinance. The ministry’s review applies to strategically important battery technology, including specialized batteries for naval mines and drone projects. The consumer battery division, controlled by a creditor group including foreign hedge funds and Deutsche Bank, is still undergoing regulatory approvals for its transfer .
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