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A UK company has been saved from administration by retail tycoon Mike Ashley. Ascot-based and Pontypool-made children's bike brand Frog Bikes announced it had gone into administration at the end of March.

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". With Olympic bike engineer Dimitris Katsanis on board, it worked to create bikes perfectly suited to young riders.

The bikes are even attracted Royal customers. In 2021, Princess Kate released a picture of Prince Louis riding a frog bike to celebrate his third birthday.

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Frog Bikes blamed administration on "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.

The administrators have said they are considering a potential sale of the business, in which "several parties" have already expressed interest.

They said: "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."

The company has now been saved by Mike Ashley's conglomerate Frasers Group. BikeBizreported that, in an email sent to suppliers, Frog Bikes said the intellectual property, brand and stock have been sold to the new owner.

"It is, of course, disappointing that we were unable to find an investor to take on the factory and continue operations as they were. However, we are pleased to have found a buyer who sees value in the brand and intends to take it forward," the email said.

"At this stage, we do not yet have full visibility of the plans or how Frog Bikes will be represented across different markets. As we learn more, we will share updates with you."

It is not the first bike brand to be purchased by the Frasers Group. In 2018, the group saved Evan Cycles from administration and in 2023, it bought WiggleCRC after it filed for insolvency.