Norton (1 Viewer)

[Enword]

Norton go into administration, shame this but not surprised, not good for the work force

Historic UK bike builder Norton Motorcycles in administration

Administrators called in days after management were in court over hundreds of thousands of pounds of unpaid taxes

www.business-live.co.uk

 

[old-mo]

 

[Kev and Carolyn]

Unfortunately ...its the way the world has turned.

What a bike though!!!!!!
Kev

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[f6c]

 

[Steve and Denise]

Not surprised really but a real shame

 

[TheTwoOfUs]

I heard this was a possibility a couple of weeks back. Sorry for the workforce.

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[LesW]

Been on the cards for quite awhile, tales of buyers waiting for over a year for their bikes often appearing on motorbike forums, bit of a shame but the chance you take in a niche market.

 

[Sundowners]

Really sad for us old bikers, the end of an era?????? But I wonder if India will pick up the brand along with Royal Enfield ?¿?? ------- maybe we will see a diesel Norton on the TT circuit????? LOL
They did hang on for longer than I expected!!!!!!!!
So sad!!!

 

[hilldweller]

I could never understand it. Huge old hall when the volume dictated a small back street lock up. All the nonsense of the TT using a bought in engine. The 600 could never have been profitable at those prices and the volume they can make. It just wasn't "right". I wondered if it was a front for something not above board.

But it surely can't die, as has been said someone will pick over the bones.

What it does show is how good Bloor is.

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[Jo662]

Sad news but not entirely unexpected ?
I hope some entrepreneur can take it over!

 

[Baldeagle7470]

I could never understand it. Huge old hall when the volume dictated a small back street lock up. All the nonsense of the TT using a bought in engine. The 600 could never have been profitable at those prices and the volume they can make. It just wasn't "right". I wondered if it was a front for something not above board.

But it surely can't die, as has been said someone will pick over the bones.

What it does show is how good Bloor is.

Totally agree Brian,said to Andrea all along,handouts,plenty of more deserving causes,new models when people waiting over a year for delivery,Aprilia engine in the TT bike.
Said yesterday a large warehouse would suffice.
Think sadly he was always a bit iffy,too smarmy for my liking.Real shame.

 

[Peppadog]

Maybe John Bloor could pick up the pieces and relaunch it with a Triumph engine. Might save the brand plus some jobs!

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[sweetie]

A sad day.

 

[hilldweller]

Here is a decent write up on it. Poor old John McGuinness.

Robin Miller: The decimation of Norton…

Norton’s demise is surrounded by scandal and acrimony

www.bikesportnews.com

 

[LesW]

Another John Delorean..?

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[Peppadog]

I don’t think so. John McG was a TT rider who didn’t get paid!
The owner appears to have lost everything plus also raided the pension fund!! So looks like he has taken others down with him.
You need deep pockets to fund a loss making brand name.
I wish Norton well in whatever form it comes back.

 

[PhilG]

Another John Delorean..?

This is closer to the truth than many realise.

Its been a con, and a big one at that .

 

[TheTwoOfUs]

This is closer to the truth than many realise.

Its been a con, and a big one at that .

Like to expand please?

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[Gaston aires]

It will probably increase the value of all the old collectors Norton’s out there.
Phil

 

[LesW]

Like to expand please?

Do a search for Stuart Garner Norton, and/or read the link in #14 above

 

[Peppadog]

That doesn’t look like a con to me. He owes £300k to hmrc of an original £600k. He is owed either £135k or £300k of government funding, depending how you read the article of the 8th. Jan. Hmrc have said they will wait, so case adjourned to 12th. Feb. They will probably collapse though as he appears to have borrowed against his hotel and the pension fund.

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[hilldweller]

The owner appears to have lost everything

Maybe.

I wouldn't bet there isn't some nice little stash hidden somewhere.

 

[hilldweller]

<Broken link removed>

 

[Peppadog]

I know nothing of the recent history of Norton or its owner, so I have no idea what the truth is. So I can only hope you are wrong.
Yes, its possible he has ferreted some away. It depends if he secured some of his own money, or others money. I hope its not the later.
I have no idea if the pension fun, as described in your link, was legal or that the people investing knew the risks. But I do know something about company law. Certainly, the journalistic writing of the linked article is, shall we say, flamboyant. A phrase like 'when the UK government was allegedly planning to liquidate Norton' can't be right as a company liquidation is something instigated voluntarily by the shareholders. A major creditor, like hmrc or the companies bankers would seek a receivership to secure their interests in the business. Is the government a major Norton shareholder?
Time will tell of course. Its all very sad if the brand dies. But its too far to say now that it is/was a con.
I doubt he bought Norton to fleece it. By the sound of it, he was wealthy enough to have a go. Its often mans vanity to buy a failing famous brand and turn it around. Look at the history of Aston Martin for example. His problem, it seems to me at the moment, is that his quest not to fail has consumed all of his ability to keep it going.
There's far too much emotion over good sense in business's like Norton.

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[Peppadog]

Ah. It seems the link' in allegedly planning to liquidate Norton' is actually companies house notifying the company they would dissolve it if they didn't comply with filing overdue information (stuff that limited companies have to comply with every year). Which is not the same thing at all and overcome by filing late and sometime paying a £100 fee.

 

[hilldweller]

Its often mans vanity to buy a failing famous brand and turn it around.

Now that sounds spot on.

As I remember it he was on a loser from day one. He bought Norton and the new brilliant engine design from, I think, Canada. But what he got was an unworkable engine.

So he got stuck in and got the mechanics sorted out working out of rented sheds at Donington race track. It was a real B grade engine, with push rods. Most living people have never heard of push rods. They sold some bikes, all hand made and labour intensive then all of a sudden Norton moves to Donington hall to set up manufacturing at a most unlikely venue.

Vanity fits that pretty well.

 

[Steve and Denise]

The only people that will do very well out of this will be someone like KPMG or some other parasitic company, they get first dibs on any monies and all others come second

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[bigtwin]

The only people that will do very well out of this will be someone like KPMG or some other parasitic company, they get first dibs on any monies and all others come second ☹

Are all service providers parasitic?

Ian

 

[Peppadog]

No. But the receiver divisions of firms like kpmg are ruthless on behalf of whoever authorised them. They have the right to always take their costs out first!

 

[Lot lover]

Will Aston Martin turn out to be a Norton with 4 wheels?

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