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DEVELOPING: Accell Bike Firm Fails: KKR Surrenders to Lenders

DEVELOPING: Accell Group to be handed over to lenders. KKR surrenders.

Dutch bicycle company Accell Group will be taken over by its lenders. This comes just a year after a debt restructuring. The deal was announced Wednesday.

KKR is set to relinquish ownership. Accell will receive new funding. The company's total debt will be significantly reduced. Brands include Raleigh, Lapierre, and Ghost.

Accell faced financial struggles. The previous restructuring offered a fresh start.

Lenders will take control in the coming weeks. Further details are expected.

This is a developing story. Updates will be provided as they become available.

AI-Assisted Journalism

Synthesized from multiple sources. Reviewed for accuracy.

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