Norton

[Ian]

Sad news about Norton, but it does make you wonder where all that "Government money" went to 

[Moto63]

Yes very, very sad news indeedy. Feel I had a lucky escape as I cancelled my order for one of the atlas models. Luckily I got my full deposit returned without any hassle whatsoever. Also makes one wonder where’s all the money gone from the multi million pound deal he’d struck with a Chinese manufacturer to use the design of the 650 twin engine in an Chinese only bike. Hhmm maybe he shouldn’t have been driving around in that Lamborghini 😯
Cheers. Michael

[Moto63]

In fact maybe Henry Cole could buy them out and resurrect the name yet again....man 😉

[Mutt]

Yes, very sad indeed. Reading the various reports it certainly seems there is (was) issues with the controller of the business and his other business interests. Sadly, the 100 or so workforce may be left wanting not only for their jobs but there appears to be issues with the pension fund too. The appointed Administrators BDO will be in there to see what can be salvaged but only after they have had 'first dibs' to secure their fee! No doubt a lot more will unfold.

[SteveC#222]

It will be very sad to see them go, but when your cheapest model is £15K and top of the range at £28K how many are you realistically going to sell? Maybe an 'everyman ' model at a sensible price might have changed their fortunes?

[Moto63]

The atlas model I put my deposit down (ironically exactly 1 year ago) was going  to be £10,000.

[Moto63]

Just dug out the invoice from my deposit. Just out of curiosity really. Dated 11th jan 2019. Total amount for norton atlas nomad was £8329 so arguably not ridiculous money these days. I got the feeling that something just wasn’t sitting quite right after a few months so withdrew the order and got my deposit back.

[SteveC#222]

The atlas model I put my deposit down (ironically exactly 1 year ago) was going  to be £10,000.

I stand corrected!  .....certain a more sensible price but not enough to save them sadly.

[themoudie]

I have a friend who was aware earlier than published that the sh1t had hit the fan. Indeed, the waters are more cesspit like than turbid!

Only sympathy for the employees who will likely loose the lot and those who have money, from loyalty to the name, "invested"!

I suspect if it's no a battery supplying the power and an electric motor providing the propulsion then you are not "investing", just wishfull thinking!

Thinking of restoring the Dawes 'Horizon'!

Hicky and McPint will be properly pi**ed off and who can blame them? Lot of time and effort wasted!

Toodle pip, Bill

[CrazyFrog]

If the news feeds are to be believed, Mr Garner has some awkward questions to answer regarding pension schemes and fraudulent activities involving investments in the company. Not sure how much, if any of this is to believed, but it's hard to believe pension schemes are still being abused these days after all the crap that hard working pension contributors have had to put up with in the past.

My sympathies lie with the staff and any small investors who may have been hoodwinked 

[themoudie]

I know that this article in the Guardian may have a journalistic slant. But, I understand that in principle much of the article is true. A sad time indeed for those directly involved in all the ramifications. As usual the only ones to come out smelling of roses will be the lawyers, accountants and some underhand shysters! 

2020-01-30_Guardian_Norton_failure_article

Bill

[tommy]

yes sad news about Norton some of their bikes are just amazing ,I was talking to  mr garner  of Norton on there stand  at the nec show a few months ago he said they had taken 25 orders for the top of the range bikes  ,wonder what will happen to those deposits I,d say theres a few people fairly worried about getting their money back

[Guzziless Steve]

If the Administrators are in they will take their cut, the bank will get whats left and any suppliers owed money and anyone who has paid a deposit will be left high and dry.  Seen the books from when Wrightbus over here in NI went into Administration and the amounts owed to people (mainly suppliers) were huge with no hope of getting any money back.  Personally lost £3000 over that one, yet now JCB have bought the company from the Administrator (minus the debts of course) it is being hailed as a big success!

[max]

 What's this?!!!!!,
                          British motorcycle manufacturer goes under due to dodgy management and shady dealing, surely not! Again?

                           Until we start to string these crooks up by the kn*****s the peter greens etc. of this world will continue to destroy the
     lives and livelihoods of honest, hard working people all over the country. How come no-one ever gets locked up for this? And administrators
     have, for years, ignored their mandate. Many viable small businesses could have been saved over the years but have had their assets sold
     out from under them by those parasites, b******s.   

[iansoady]

It's sad that all the people who set out to "rescue" the proud name of Norton seem to be chancers that I wouldn't buy a cup of tea from. LeRoux, Garner etc - all sharks looking for a quick buck in my experience. And look who the bulk of the money s owed to - HRMC - in other words us. I bet he's paid off the loans before them.

And as said, millions of taxpayers' money has been thrown at them.