Staff members are being made redundant.
A children’s bike manufacturer has fallen into administration, with staff being made redundant. Frog Bikes has begun laying off staff after filing for administration.
The business was launched by parents Jerry and Shelley Lawson in 2013 with the aim of creating “high-quality, lightweight bikes specifically designed for children”. It worked, with Olympic bike engineer Dimitris Katsanis on board to create bikes perfectly suited to young riders. In 2023, Princess Kate released a picture of Prince Louis riding a frog bike to celebrate his third birthday.
Official records on The Gazette show that Frog Bikes appointed Anthony John Wright and Alastair Rex Massey, of FRP Advisory Trading Limited, as administrators on Thursday, February 19. This is also marked on the company’s website, which is still selling bikes.
The brand previously confirmed the news, citing “tighter financial markets and reduced access to funding (making) it increasingly difficult for growing manufacturing businesses to secure the requisite working capital”. It also blamed Brexit and difficulties adjusting to post-pandemic “supply chain disruption”.
In 2021, the owners of Frog Bikes claimed that leaving the EU cost them £250,000 in two months. Then, just two years later, their accounts showed losses of £500,000.
Staff at Frog Bikes are now being made redundant, with a few making announcements on LinkedIn describing it as “a difficult day”. , The brand is headquartered in Ascot, Berkshire, with a factory in Pontypool, south-east Wales. Cycling Weekly reported in early March that there had already been 15 redundancies, according to FRP Advisory, which added that Frog Bikes employed 49 people at the time of the appointment.
Frog Bikes will continue to trade during the administration process and its website is still selling bikes, though some models are listed as now out of stock.. The administrators have said they are considering a potential sale of the business, in which “several parties” have already expressed interest.
“Frog Bikes is a well-loved brand with an excellent reputation for producing high-quality bikes that are popular with children and families across the country. We’re encouraged by the level of interest we’ve already received from prospective buyers,” said Mr Wright.
“Our focus now is on continuing to trade the business while we work to identify the best possible outcome for all stakeholders. We would encourage any interested parties to contact us as soon as possible.”
In a statement shared with Cycling Weekly in February, co-founder Mr Lawson said there was still demand for Frog Bikes’ products.: “The business remains the clear market leader in premium children’s bikes in the UK and continues to be trusted by parents and loved by children,” he said.
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source www.mirror.co.uk ’
