The German subsidiaries of Dutch bicycle manufacturer Accell Group have entered insolvency proceedings, with a court in Schweinfurt ordering self-administered bankruptcy processes for the holding company and three local units: Winora Staiger, Ghost Bikes, and Engelbert Wiener Bike-Parts. The move follows the parent group's broader insolvency filings across more than a dozen countries after its parent company exhausted restructuring options last week.
Nuremberg-based lawyer Stefan Debus has been appointed as preliminary administrator for the German operations, which employ 370 people at sites in Sennfeld and Waldsassen and generated €340 million in revenue last year. The German business owns brands including Haibike, Winora, and Ghost, with Winora tracing its roots to 1914 when cyclist Engelbert Wiener founded the company.
The insolvencies mark the final stage of Accell Group's collapse. A structured sale process for the entire group failed at the turn of the month, leaving the KKR-owned manufacturer unable to continue operations. Accell had faced significant challenges since early 2024, when safety concerns over Babboe cargo bike frames forced a recall of tens of thousands of units.