Following well-documented financial struggles over the last few years, Accell today has stated that the last debt reduction has further stabilised the company, "while additional funding enabled Accell to accelerate the execution of the final steps of its transformation." As it prepares for this season with a sharpened portfolio of new models and a significantly leaner build after divesting non-core brands, is the once mighty Accell Group now out of the woods?

HEERENVEEN, the Netherlands - The reorganisations announced at three of its subsidiaries was already a clear indication of a new policy at Accell Group BV. Now the reason why has become clear. Fitch Ratings has downgraded Accell Group and questions the company's possibility of meeting its financial commitments. According to Accell Group, "the Fitch report reflects the difficult market circumstances."

WALDSASSEN, Germany - The 30th anniversary gift of Ghost was not a pleasant one for the 120 employees. Owner Accell Group decided to close down the production in Germany and relocate the production abroad.

SCHWEINFURT, Germany - Construction is in full swing and is reaching its final stages in Röthlein, near Schweinfurt. The 18 million euro costing logistics center will mainly be serving Winora Group; the German subsidiary of Accell Group that is marketing Europe's biggest e-bike brands Haibike and Ghost.

He is widely known throughout the industry in Europe as well as in Asia. And not only as one of the founders of Ghost, as he became one of the senior executives of Accell Group NV after this company took over Ghost in 2008. Uwe Kalliwoda has retired and says goodbye to all his relations in a recent farewell letter.

The 2017 first half-year results Accell Group NV announced last Friday reflect the changes in consumer behavior resulting in more online sales which is