I'm pretty sure that's a Raleigh Industries built bike (but definitely not a Raleigh brand bike). Low budget in the Brit bike world, yes - but these were tough, capable bikes. This here example isn't worth anyone's time, IMO. Looks like a 559bsd wheelset, and of course the horrific respray and missing bits. This isn't even a parts bike. Might be ok for a rider to leave outside, and not worry about. But I find salvageable, original paint bikes like this in my area for $30-ish on a regular basis. With working 3 speeds.