German cycle manufacturers file for insolvency

Three Bavarian-based cycle companies have filed for insolvency after their parent company Dutch Accell Group ran into difficulties, a court in Schweinfurt announced on Monday.

Insolvency proceedings have been opened for the German holding company Accell, as well as its subsidiaries Winora Staiger, Ghost Bikes, and Engelbert Wiener Bike-Parts.

According to Accell, the companies behind brands such as Haibike, Winora, and Ghost employ 370 people at their locations in Sennfeld near Schweinfurt and Waldsassen in Bavaria.

They generated revenue of €340 million ($390 million) in 2025. Operations are to continue, and wages and salaries will initially be secured with the aim of finding.

Accell Germany is currently part of the Accell Group, which is based in the Netherlands and operates in many European countries, and which until recently was majority-owned by the US private equity firm KKR. 

An attempt to conduct a structured sale process for the entire Accell Group failed at the beginning of the month. Accell Group has filed for insolvency in numerous countries.