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The support of key stakeholders and creditors comes at an important moment for Accell Group. – Photo Accell Group

Accell Group secures support of creditors for recapitalisation

HEERENVEEN, the Netherlands - Accell Group can proceed with the restructuring of its financial position as it secured sufficient support from its key stakeholders. "The implementation of the recapitalization will create a sustainable financial and operational platform to execute our strategy," reported the company today. "Approximately 80% of our senior term and revolving facility lenders have committed their support for the recapitalisation, while other key creditors unanimously back the plan."

UK bicycle retailer Halfords recently expanded its premium selection within the Boardman, Voodoo and Carrera ranges. – Photo Halfords

Weather and market conditions continue to challenge Halfords

REDDITCH, England - With a current strategy of "controlling the controllables," the UK's largest bicycle retailer Halfords continues to face challenging conditions. With poor weather conditions in spring and summer affecting sales, the retailer failed to meet pre-COVID sales levels in its cycling department in the first 26 weeks of the current financial year which started 1 April.

Every year, over 20,000 e-bikes are given a general overhaul in a refurbishment process developed in-house by Rebike and certified by TÜV Rheinland. - Photo Rebike

Decathlon partners with Rebike Mobility for more circular e-bikes

LILLE, France - Decathlon Pulse, the investment arm and start-up studio of retail giant Decathlon, and Rebike, well known in the DACH region (Germany, Austria and Switzerland) for the refurbishment and sale of second-hand e-bikes, have teamed-up through an investment to boost refurbished e-bike sales in Europe.

“As an industry we need to step forward to create new business models, otherwise we are disrupted by others,” says Tern team-lead Joshua Hon. – Photo Bike Europe

Tern team-lead Joshua Hon: 'The industry needs other business models'

TAICHUNG, Taiwan - Folding bikes stood at the heart of Tern Bicycles when the company started in 2011. However, over the years, they have evolved into a supplier of transportation bicycles in any kind of form. "We even created the new category compact cargo bikes, which are in our vision more practical in future cities," says Tern team-lead Joshua Hon.

With the official sale beginning on 23 October, users have been uploading their components to secure a solid inventory offer at the time of launch. – Photo Buycycle

Buycycle adds pre-owned components to its online marketplace

MUNICH, Germany - A premium pre-owned marketplace for bicycles is one thing, but Buycycle is now going one step further with the launch of a full range of pre-owned bike components on its platform. This move aims to fill a gap in the second-hand cycling market, making it easier for cyclists to buy and sell essential parts, the company states.

In a cost-cutting exercise, Accell Group started 2024 with the announcement that it was merging its two facilities in Heerenveen, The Netherlands and relocating some of the current production to Accell's other European manufacturing facilities. – Photo Tweewieler

Accell Group sees rating drop at Moody's due to current debt concerns

MILAN, Italy - Dutch bicycle manufacturer Accell Group painted a rosy picture in October when it announced it had improved its financial position and reduced its corporate debt in agreement with its financial stakeholders. But seeing as this financial restructuring is not due for completion until February 2025, credit ratings agency Moody's has downgraded Accell Group, citing "a very high likelihood of a default occurring over the next 6 months."

As it reaches its first decade of existence with its ‘bike as service’ model, Swapfiets eyes own design and smart user data as key to a circular future. – Photos Swapfiets

Swapfiets future-proofing its bicycle fleet with circular components

AMSTERDAM, The Netherlands - Bike subscription service Swapfiets, will celebrate its ten-year anniversary on November 7. Under the guidance of Pon Holding's investment company Ponooc since 2018, the company has grown to have over 270,000 members across Europe. Although, still striving for profitability, the B Corp-certified scale-up is working hard towards creating a 100% circular bicycle.

As a result of the market circumstances Pierer Mobility revoked its guidance for the 2024 financial year. – Photo Pierer Mobility

Pierer Mobility scales back market outlook for 2024

WELS, Austria - As a result of the market circumstances for e-bikes, bicycles and motorbikes, Pierer Mobility will fall short of expectations in terms of revenue and earnings, as well as with regard to the reduction in working capital and net debt in the current financial year. Therefore, the company has revoked its guidance for the 2024 financial year.

Since 2011, Dolly e-cargoibkes have been developed and produced in-house in the Netherlands. – Photo Dolly bikes

Optima Cycles acquires e-cargobike brand Dolly Bikes

BEVERWIJK, The Netherlands - Dutch e-bike and electric cargo bike manufacturer Optima Cycles has acquired compatriot Dolly Bikes, which focuses on the high-end e-cargobike segment. With this strategic acquisition, Optima Cycles, known for the brands Dutch ID and Lovens, aims to strengthen its position in the rapidly growing electric cargo bike market and create new growth opportunities.

Öhlins Racing’s new owner, Brembo which still has headquarters in Italy, has its legal headquarters in the Netherlands since this year. – Photo Ohlins Racing

Tenneco sells suspension expert Öhlins Racing to Brembo

UPPLANDS VÄSBY, Sweden - With the complete takeover of Swedish suspension specialist Öhlins Racing AB, Italian brake expert Brembo is making the largest acquisition in the company's history, according to its own statements. Öhlins had been part of US automotive supplier Tenneco Inc. since the end of 2018. Subject to the usual regulatory approvals, the takeover, which was announced on 11 October, is expected to be completed by the beginning of 2025.