Accell trustees sell Sparta brand to Tenways and continue selling rest of group
The trustees of bankrupt bicycle maker Accell say the Sparta brand will live on under a new owner, and that they will now continue selling the rest of the group.
The trustees (curatoren) handling the bankruptcy of bicycle maker Accell announced on Thursday that they have sold the Sparta brand to Tenways, an Amsterdam-based e-bike company. The trustees say the sale means the Sparta brand will survive.
Tenways gets the Sparta brand rights and the related intellectual property rights, among other things.
The trustees said they ran a separate sales process for Sparta to achieve "the best possible proceeds for the estate". With Sparta sold, they will now continue selling the rest of the Accell group.
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curatoren
Curatoren are the bankruptcy trustees: independent insolvency practitioners appointed by a Dutch court (rechtbank) to take control of the assets of a company or person declared bankrupt (failliet). They manage, sell and distribute those assets to creditors, and they can decide what happens to the business or its brands. When a bankruptcy is in the news, the curatoren are the people announcing sales and decisions on behalf of the bankrupt estate.
Accell
Accell is a Dutch group of bicycle companies that owns several well-known bicycle brands, including Batavus, Sparta and Raleigh. Its brands cover city bikes, e-bikes and other bicycle types sold across Europe. Because the group owns many brands, the sale of a single brand such as Sparta can be handled separately from the rest of the group.