The Netherlands

HEERENVEEN, the Netherlands - Accell Group has completed its recapitalisation process after it secured sufficient support from its key stakeholders last November. The sanction hearing in the English court on 23 January 2025, at which the court sanctioned the recapitalisation following the agreement that Accell reached with the majority of its financial stakeholders in October 2024, was the final step before yesterday's finalisation.

EINDHOVEN, The Netherlands - Shimano Europe is extending its cooperation with GXO, a company that manages outsourced supply chains and warehousing, to perform logistic services across Europe. The component manufacturer will now move its warehouse operations in Belgium to GXO's facility in Venray, the Netherlands.

LUXEMBOURG, Luxembourg - Four suspects have been arrested in The Netherlands on suspicion of large-scale customs fraud involving bicycles imported from China. The value of the alleged fraud is over €7 million.

HEERENVEEN, the Netherlands - Accell Group's chief operating officer (COO) Jonas Nilsson, will become CEO of the group, succeeding Tjeerd Jegen, who is stepping down and will transition to chair of the group's supervisory board. The CEO transition will take place over the coming months, up until 1 April, 2025, with the Chair transition taking place later this year, to allow for a cool-off period in line with good governance practices.

MEPPEL, The Netherlands - The full extent of the problems in the Dutch e-bike market are becoming increasingly clear with the next insolvency of pure player Amslod founded in 2015. Like Stella E-bike, Amslod started as an online retailer which later opened shops to provide better service, but never became as successful as Stella E-bikes.

HEERENVEEN, The Netherlands - As the market continues to be challenging, liquidity will remain a key focus of the Accell Group, according to a business update of the company published yesterday. With accounts for 2023 finalised with a 10% revenue drop, "recovery is well on track across the business," states CEO Tjeerd Jegen.

DIJON, France - The news came out already earlier, but was only published officially today. Accell Group's brand Cycles Lapierre is making a return to the to the UCI World Tour as the official bike sponsor for Team Picnic PostNL. The team will compete on Lapierre bicycles for the next four years.

EINDHOVEN, the Netherlands - Adaptable tyre pressure technology firm Gravaa has ap-pointed John Zopfi as its new chief commercial officer. With more than 20 years of experi-ence in outdoor and cycling industries, Zopfi took up the role earlier this month after spend-ing the past six years at 7mesh Industries where he most recently served as general manager for global wholesale.

NUNSPEET, The Netherlands - The future of a former market leader for e-bikes in the Netherlands, Stella, has been secured. Dutch investment company Scheybeeck and chain store owner Ilias Salhi have announced a relaunch of the recently bankrupt e-bike manufacturer albeit in a downsized form.

AMSTERDAM, the Netherlands - Imports of fatbikes which do not comply with EN standards and road safety regulations has prompted the Dutch bicycle industry organization RAI Association to introduce a new e-bike quality mark. The use of illegal and tweaked fatbikes has caused a major increase in e-bike accidents and a lot of irritation amongst the Dutch public.

Supreme Dutch, a bicycle tyre innovator based in the Netherlands, has unveiled its next generation airless tyre specifically designed for bicycles. The new patented product is aimed at transforming the bike-sharing, food delivery, and cargo bike transportation sectors, where reliability, durability, and minimal maintenance are critical. With over a decade of research and development, the company is known for its focus on airless solutions for urban (E-) mobility. The company collaborated with tyre brand Schwalbe - Ralf Bohle for nearly five years before branching out independently to expand its reach globally.

NUNSPEET, The Netherlands - Dutch e-bike brand Stella has been declared bankrupt, the appointed administrator Frans van Oss has confirmed. Coming quicker than expected, the bankruptcy follows the request for a delay in payments last week. Now all eyes are on a possible restart of the financially troubled e-bike manufacturer.

NUNSPEET, The Netherlands - Once claiming to be market leader in the Netherlands, e-bike brand Stella is on the verge of bankruptcy. Despite repeated financial injections from its owner DMEP, the manufacturer has now filed for a payment extension. According to DMEP, Stella can no longer achieve sustainable profitability in its current form and requires a "substantial" capital injection.

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."

UTRECHT, The Netherlands - With the introduction of zero-emission zones from 1 January 2025, developments in the cargobike field are more relevant than ever. This was the message at the 2024 edition of the International Cargo Bike Festival (ICBF) which took place in Utrecht, the Netherlands on 25 and 26 October. With a mix of expo and conference programme the event is fully developing into something relevant for all stakeholders in the cargo bike business.

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."

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.

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.