The bankruptcy trustees received bids for individual brands as well as proposals to acquire groups of brands, according to their first bankruptcy report.
It was previously disclosed that Irish investor Quanta Capital is interested in Accell. Additionally, DuTech Holdings, an investor in a number of other bicycle brands, is in serious talks with the trustees. The report reveals that the trustees have reached agreements with several major creditors to improve the prospects of a relaunch.
A group of major Dutch banks alongside Deutsche Bank, with whom Accell held a €110 million credit facility, agreed to allow the inventory of bicycles and components to be sold as usual to keep operations running. This group of financiers holds a pledge on Accell's inventory, granting them the right to liquidate these assets in the event of a loan default. To date, 434 creditors have come forward, submitting claims totaling €38.4 million. The Dutch Tax and Customs Administration has also filed a claim. The total amount of the outstanding debt remains undisclosed.
