German bicycle brand Ghost will not be discontinued. Bike Tree GmbH, the company set up to acquire insolvent Winora-Staiger, has also taken over the Ghost brand and all related intellectual property rights from insolvent Accell Germany subsidiary Ghost Bikes GmbH.
Swiss bicycle industry specialist Netcycle AG says its joint takeover bid for Ghost Bikes and E. Wiener Bike Parts, both subsidiaries of the insolvent Accell Group, has been rejected. Ghost will cease operations, terminate all employment contracts and sell its remaining stock en bloc,
German parts wholesaler Engelbert Wiener Bike Parts GmbH (WBP) continues operations and is looking for an investor after its insolvency proceedings in self-administration opened on 1 November 2026. Of the three German Accell subsidiaries, WBP is the only one without a buyer or a closure decision.
Ghost-Bikes, the insolvent German mountain bike subsidiary of Accell Group, will cease operations after no buyer was found. Its 53 employees in Waldsassen will lose their jobs.
Singapore-based Dutech Holdings has acquired Winora Staiger GmbH, the German company behind the Winora and Haibike brands, from insolvent Accell Germany. Its newly formed subsidiary Bike Tree GmbH continues the business in Sennfeld with 87 of the 187 employees.
With the acquisition of Sparta on October 15th, Tenways added an iconic Dutch bicycle brand to its portfolio. The Dutch brand founded by a Chinese-European team bought Sparta's assets and trademarks with an ambitious goal: to bring the bicycle brand back to the forefront of its home market.
