A bicycle brand much loved by Prince William and Princess Catherine has gone into administration, it has been revealed. Staff at Frog Bikes, the premium children’s bicycle manufacturer established by Jerry and Shelley Lawson in 2013, are now facing the heartbreak of redundancy.
The brand is known for producing lightweight cycles specifically engineered for young riders, and has enlisted Olympic bike engineer Dimitris Katsanis to perfect its designs. William and Catherine’s youngest son, Prince Louis, was seen on one of their bikes in a picture released to commemorate his third birthday in April 2021.
The business operates from its headquarters in Ascot, Berkshire, and has a manufacturing facility in Wales.
Records published in The Gazette appeared to confirm that administrators Anthony John Wright and Alastair Rex Massey from FRP Advisory Trading Limited were appointed on February 19.
The company attributed its financial difficulties to a combination of factors.
These included constrained credit markets and reduced access to capital, which made securing necessary working capital increasingly challenging for expanding manufacturers, GB News reports.
It has been reported that by 2023, the company’s accounts showed losses reaching £500,000.
Several members of staff have shared on LinkedIn they have already lost their positions.
According to FRP Advisory, 15 redundancies had been confirmed by early March.
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‘ Some details of this article were extracted from the following source www.express.co.uk ’
