Frequently Asked Questions (FAQ) – Bankruptcy of the Accell Group

On 11 August 2026, the Amsterdam District Court declared several Dutch companies within the Accell Group bankrupt, following the granting of provisional suspension of payments on 5 August 2026. In doing so, the court ruled that there was no longer any prospect of the companies being able to settle their debts with their creditors.

The bankruptcy concerns Accell Group Holding B.V., Accell Group B.V., Accell Nederland B.V., Accell Duitsland B.V., Accell Global B.V., Accell Group Europe B.V. and Protanium B.V. (“Accell Group”). Mrs. T. Hekman (AKD) and E.J. Schuurs (Jones Day) have been appointed as trustees.

The Accell Group is known for various bicycle brands, including Batavus, Sparta, Koga, Babboe and Carqon. The trustees are currently investigating ways to preserve the value of the company as much as possible and are examining, amongst other things, whether it is possible to continue operations and potentially relaunch the business.

On this page, we answer the most frequently asked questions about the bankruptcy and its consequences for the various parties involved.

Why was the Accell Group declared bankrupt?

Public reports indicate that the bankruptcy was the result of various factors. These include difficult market conditions in the cycling sector, declining demand for bicycles following the COVID-19 pandemic, high levels of debt, large stock levels and the financial consequences of the recall of Babboe cargo bikes. In addition, a planned sale of the company ultimately did not go ahead.

What is the role of the trustees?

The trustees in bankruptcy are responsible for managing and winding up the bankruptcy proceedings. In doing so, they represent the interests of all creditors. Among other things, the trustees are investigating the company’s financial position, the possibilities for continuing operations, and a potential sale or relaunch of (parts of) the company.

What does the bankruptcy mean for the Accell Group’s operations?

The trustees are currently investigating whether, and if so how, the company’s operations can be continued. In the case of large-scale bankruptcies, consideration is often given to whether a temporary continuation of business operations is possible in order to preserve the value of the company and increase the prospects of a sale of the business as a going concern.

In the case of the Accell Group, the trustees have indicated that they will endeavour to keep the company running as much as possible in the coming period, with the aim of preserving the company’s value. In addition, they are exploring the possibilities for continuing business operations and are contacting suppliers and other key stakeholders.

In the coming period, it should become clearer to what extent the business can continue to operate and whether this may ultimately form part of a sale of the business as a going concern. It is therefore important for suppliers, dealers, employees and other stakeholders to monitor communications from the trustees closely.

Will the business be sold as a going concern?

At present, it is not yet known whether the business will be sold as a going concern. The trustees are exploring the possibilities for a sale of all or part of the business and have indicated that a going-concern sale is among the scenarios being considered. As part of this process, the position of the foreign group companies within the Accell Group is also being assessed.

Recent reports indicate that there is interest in acquiring all or part of the Accell Group. For example, the Irish investment firm Quanta Capital has publicly announced that it has expressed its interest in acquiring the group to the Accell Group. According to Mel Sutcliffe, Chief Executive Officer of Quanta Capital, any potential offer would be supported by a consortium of investors and an international financial institution.

The existence of interested parties does not, however, mean that a going-concern sale will necessarily take place. The trustees must determine which course of action is likely to generate the greatest value for the general body of creditors and whether a sale of the business, or parts thereof, is commercially and financially viable.

I am a supplier to the Accell Group. What does the bankruptcy mean for me?

If you supplied goods or performed services prior to the date of the bankruptcy and have not yet been paid, you may have a claim against one or more of the insolvent companies.

In addition, it may be important to consider whether you benefit from any proprietary or security rights, such as a retention of title clause, a pledge, a lien, a right of reclamation, or rights of set-off.

I supplied goods subject to retention of title. What should I do?

If you supplied goods subject to a retention of title clause, it is advisable to notify the trustees as soon as possible.

You should ensure that all relevant documentation is readily available, including contracts, terms and conditions, invoices, delivery notes and proof of delivery. The trustees will then assess whether a valid retention of title exists and whether the relevant goods can be identified.

Can I recover my goods?

That depends on the specific circumstances of the case.

In certain circumstances, a supplier with a valid retention of title or a legally valid claim under the right of reclamation may be entitled to the return of goods supplied. The trustees will assess on a case-by-case basis whether the legal requirements have been met.

What happens to the existing contracts?

The bankruptcy of a company does not automatically bring all of its contracts to an end. In many cases, it will be necessary to assess whether a contract can or should continue to be performed and whether the trustees consider it beneficial to the bankrupt estate for the contract to continue.

Under the Dutch Bankruptcy Act, a contracting party may require the trustees, in writing, to confirm within a reasonable period whether they intend to perform the contract. If the trustees fail to respond within that period or indicate that they do not wish to perform the contract, they lose the right to require performance by the other party. In that event, the other party may have a claim for non-performance, which can generally be submitted in the bankruptcy as an unsecured claim. At this stage of the bankruptcy, however, any distribution on an admitted unsecured claim remains highly uncertain.

If the trustees decide to perform the contract, the obligations arising under it must be satisfied out of the bankrupt estate. Such obligations rank as expenses of the bankruptcy and take priority over ordinary unsecured claims. In those circumstances, the other party may require adequate security for performance.

Alternatively, the trustees may seek to enter into separate arrangements with you. In that case, the existing contract is not being performed by the trustees. You may then require direct payment for any future goods supplied or services provided. Claims arising from such arrangements likewise rank as expenses of the bankruptcy and are payable out of the estate in priority to ordinary unsecured claims.

It may therefore be important for suppliers, landlords, customers and other contractual counterparties to assess their contractual position at an early stage and, where appropriate, engage with the trustees regarding the future performance of the contract.

How can I submit a claim? 

Creditors may submit their claims to the trustees. It is advisable to provide as much supporting documentation as possible, including:

• invoices;
• contracts;
• order confirmations;
• delivery notes;
• terms and conditions; and
• relevant correspondence.

Can I still receive payment after the bankruptcy has been declared?

Payments relating to debts incurred before the date of the bankruptcy cannot automatically be made outside the bankruptcy proceedings. Whether payment is possible depends on the nature of the claim, any security interests and the further settlement of the bankruptcy.

Where can I find up-to-date information about the bankruptcy? 

Current information regarding the bankruptcy can be found in the Dutch Central Insolvency Register and in the public bankruptcy reports that will be published during the course of the proceedings. In addition, the trustees will keep stakeholders informed of material developments where this is considered necessary or appropriate.

Questions about the bankruptcy of the Accell Group?

DVDW has extensive experience in insolvency and restructuring law. Our lawyers are regularly appointed by the courts as trustees in bankruptcy proceedings and also advise suppliers, customers, financiers, landlords, directors and other stakeholders on their legal position in insolvency situations. If you have any questions regarding your position in the bankruptcy of the Accell Group, for example in relation to retention of title rights, existing contracts, security rights, claims against the bankrupt companies, or the consequences of a potential sale of the business as a going concern, please do not hesitate to contact one of our specialists. We would be pleased to discuss the options and risks relevant to your particular circumstances. 

This FAQ is intended for general information purposes only. No rights may be derived from the contents of this publication.