Fri 09/29/2023 12:37 PM
Dutch bicycle group Accell’s working capital problems mounted in the first half of 2023, as the European bike market struggled with significant oversupply, which resulted in heavy discounting.
The group’s inventory level swelled to over €1 billion by the end of June, increasing the rate of cashburn in the first half. In response, sponsor KKR committed up to €100 million of shareholder loans to bolster the group’s depleted liquidity and parachuted in one of its most senior members to help the...
This article is an example of the content you may receive if you subscribe to a product of Reorg Research, Inc. or one of its affiliates (collectively, “Reorg”). The information contained herein should not be construed as legal, investment, accounting or other professional services advice on any subject. Reorg, its affiliates, officers, directors, partners and employees expressly disclaim all liability in respect to actions taken or not taken based on any or all the contents of this publication. Copyright © 2024 Reorg Research, Inc. All rights reserved.