On August 11, 2026, a Dutch court declared six companies under the Accell Group bankrupt. Accell is Europe's largest bicycle manufacturer, known for its popular brands such as Lapierre, Batavus, Sparta, Koga, Winora, Haibike, Ghost, and Babboe, a specialist in cargo bikes. The group was acquired in 2022 by a consortium led by the American private equity firm KKR for 1.56 billion euros. However, the company struggled to manage its debt after the bicycle market, which had seen a boom in recent years, began to decline. Now, administrators are looking for a buyer, either for individual brands or the entire group. Dutech, a Singapore-based investment company led by Johnny Liu, had previously been in talks about acquiring Accell before its bankruptcy and is still in discussions with the administrators. Earlier in 2026, the group had reached a takeover agreement, which had received approval from competition authorities in Germany, Austria, and Poland. However, the deal collapsed during the night of August 4 to 5, with neither Accell nor Dutech providing any public explanation for the reversal. This collapse led to the bankruptcy just days later. Accell owns several German brands, including Prophete and Kreidler, through its subsidiary Tri Star. Eugène Fierkens, a commercial development advisor for the group, spoke with the Dutch media outlet NieuwsFiets on Tuesday, September 8. While he did not disclose details about the involved parties, the number of bidders, or the best offer for the company's assets, Fierkens confirmed that if Dutech acquires Accell's assets, he would take a seat on the board of directors. He described Dutech’s business model as a new kind of collaborative approach focused entirely on retailers, which he said is unique in the market. He also urged distributors to maintain their commitments for the 2027 season to help the new owner start operations smoothly. He emphasized the importance of maintaining stability and confidence in the retailer network, though no formal agreements had been signed yet. Dutech is not the only interested party; the Irish investor Quanta Capital, led by former cyclist Mel Sutcliffe, has also expressed interest in acquiring Accell. Until the administrators choose a buyer, the future of Accell's brands remains uncertain.