Norton Motorcycles collapses into administration

[g8ina]

https://www.birminghammail.co.uk/new...ZkVSPYwR39KG0w

Bum

[Ttaskmaster]

As I understand it, they were trying to live a bit beyond their means. Echoes of Zak's comments in the Aston Martin thread, really.
Lots of dosh being spent on expensive stands at shows and the like, but not enough focus on the financial management.

[[GSV]Trig]

Anyone seen the building they are based at, that wont be cheap..

[Zak33]

oh this is a bigger shambles than an overspend.

Mr Garner, the chap who purchased the brand from the Americans a decade ago, intended to get them back to racing etc and he needed some money..lots of money

he started borrowing
Back in 2011 the UK government backed a bank loan for Norton.. bet that wasn't all paid back

Elsewhere a chap called Colfer came up with a scheme to convince pensioners to sign their pensions over for 5 years into a mixed asset pot , some he kept and some which actually went to Mr Garner at Norton and after 5 years he didn't and hasn't given anyone any of their money back. It wasn't a "mixed investment", it was 3 funds all aimed at Colfer and Garner at Norton.. and the funds all went into the sinkhole known as Norton.
They have deposits for bikes they could never build, and they owe the HMRC a huge amount of dough.

https://www.ftadviser.com/pensions/2...enced-to-jail/

the Norton pension scheme set up a payment out of it to two other chaps for abnother conmpany who then put in a false claim for tax rebates on Pension contributions they never made.

If it was the 60',....you'd make a film about this... but it's the 21st Century and it amazes me they all carried on for so long tbh.

And dudes like George Osborne were still harping on about UK industry growth and using Norton as an example.

[Jonj1611]

Can't remember the last time I saw anyone on a Norton or talking about them, I thought they died a long time ago :/

[Output]

Can't remember the last time I saw anyone on a Norton or talking about them, I thought they died a long time ago :/

Maybe it's because I'm just not someone who really has any interest in vehicles (neither cars, motorcycles, or even bicycles), but I wasn't even aware that there was a motorcycle brand named Norton.

I only knew of the usual suspects like Triumph, Kawasaki and Harley Davidson. There's probably a few more that have slipped my mind at this particular moment, but the only Norton I was aware of was the Antivirus brand by Symantec.

[PC-LAD]

Kowasaki

I'm offended.

Yea, but Norton is just going to be another big bottle of chinese or indian poop in a couple of years. Another one bites half the dust.

[Smudger]

I remember Ron Haslam steaming through the pack on his Norton in Superbikes back in the day. I seem to remember that bike having a rubbishrubbishrubbishrubbishel engine, and Ron always seemed to get pole by a mile, start really badly (not sure if this was down to the rubbishrubbishrubbishrubbishel or not), then steam through to either win or grab second. That was their 2nd coming, after being a big brand during my Dad's biker days. We did see a few Nortons on the road in the early 90s, but not seen any for a while...

[DDY]

I'm more suprised that they managed to exist for as long as they have, I get the impression that they don't churn out many machines on the count that I've never seen a modern one in the decade I've been riding.

I reckon the business here is done for, but the brand might still be of value and relevance in Asia - where Norton badges could be stuck on on clones of low- to mid-range machines like badges of other historically-British manufacturing brands. I expect there will be pressure for the brand to be sold, and my guess is that there are already Asian manufacturers lining up for it.

[Ttaskmaster]

You'll likely find Nortons being made in India, for the classic market, just like the Enfield 500...

[Output]

I'm offended.

My bad, it's been many years since I've seen the name in writing. If I recall correctly, it was a brand mentioned in Road Rash back in the day.

[Phage]

I remember Ron Haslam steaming through the pack on his Norton in Superbikes back in the day. I seem to remember that bike having a rubbishrubbishrubbishrubbishel engine, and Ron always seemed to get pole by a mile, start really badly (not sure if this was down to the rubbishrubbishrubbishrubbishel or not), then steam through to either win or grab second. That was their 2nd coming, after being a big brand during my Dad's biker days. We did see a few Nortons on the road in the early 90s, but not seen any for a while...

That was the Rotary.
The new bikes were/are awesome, it's the financial management that is the problem.

[Phage]

[Smudger]

That was the Rotary.
The new bikes were/are awesome, it's the financial management that is the problem.

YEah, the swear filter kicked in when I wrote the proper name of the engine, I wasn't saying it was rubbish, quite the opposite, it's just there's a swear in the name. If you look closely, you'll see the 'el' has remained on the end

[Phage]

Oops my bad. Yeah - sounded amazing too

[Phage]