Yesterday the Derby Cycle Corporation released a statement to the US Securities and Exchange Commission (SEC) confirming that a bid had been received from Derby's current chairman

Finden-Crofts officially launches his bid for Raleigh

The SEC filing said:

"[Derby] announced today that it has recently received a bid from certain members of its management (led by Mr. Alan J. Finden-Crofts, the Company’s Executive Chairman and a director) to purchase certain assets of the Company. The Company is in the process of considering and evaluating this bid, and is at the same time also exploring other alternatives…"

Finden-Crofts is bidding for the non-Gazelle parts of the business, as the profitable Dutch cycle maker is being sold seperately.

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4th June 2001 – Raleigh management buy-out goes public

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