Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Accell Hunland Kft., a Hungarian subsidiary of Dutch bicycle manufacturer Accell Group, started the insolvency proceedings and announced the closure of its Tószeg plant, resulting in 400 job losses. The layoffs will begin after the notice issued on Thursday. The decision follows prolonged financial strain and a post-pandemic drop in demand for bicycles, following a temporary demand surge during the COVID pandemic.
Accell Group was acquired by the US investment firm KKR (Kohlberg Kravis Roberts) in 2022. The industry downturn began in the following year and eventually culminated in the bankruptcy of the company.
The closure of the Tószeg plant creates significant problems not only for the small town but also for the nearby county seat, Szolnok, as well, since Accell was both the largest local employer and the largest local taxpayer. The mayor of Szolnok called on the leading companies in the city to hire, where possible, some of the laid-off employees, and took on the role of coordinator between the workers and potential new employers.
Eurofound (2026), Accell Hunland, Bankruptcy in Hungary, factsheet number 300862, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/300862.