Norton goes into administration

[MCN]

From what I've been reading up to now, Stuart Garner is another Robert Maxwell.
Hopefully he is stopped in his tracks before he damages anything else.

The issue with fraud crime is that even though we know the perpetrator if they move fast the destroy stuff before stopped.

I would label this cunt Stuart Garner a psychopath.

And I've not even met the prick.

His Mrs. should distance herself from him as his blood relatives have before she gets infected.
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Disclaimer: The comments above may be predicted text and not necessarily the opinion of MCN.

[wr6133]

[MCN]

[Moo.]

"If we add the running total to the amount owed to those that had their pensions invested into Norton, we get £28,352,089"

https://www.superbike.co.uk/article/norton-creditors-report-how-much-money-is-owed
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A2 Passed 18/6/10

[SDFarsight]

I remember an anti-Brexit campaigner on my FB feed showed how Brexit was killing motorcycle companies; which IMO is bullshit as if Brexit did have anything to do with this then it was the straw which broke the camel's back. In fairness to him, I think he just didn't look deeper into the issue rather than actually trying to decieve anyone. If I barely know who Norten is then I doubt that he (a non-biker) did.
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Riding: 2009 Kawasaki ER6f
Previous: Sym Wolf SB125Ni, 2008 Kawasaki ER6f

[linuxyeti]

[Moo.]

"Norton sold the rights to the 961 engine platform before the company went into administration, it has been revealed."

https://www.motorcyclenews.com/news/norton-motorcycles/
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A2 Passed 18/6/10

[MCN]

[SDFarsight]

[Bhud]

2 days ago BDO filed a proposal at Companies House to wind up and sell off Norton's assets. The proposal includes a statement of affairs showing what Norton has and what it hasn't. It's a very bleak picture other than for Metro Bank and BDO. BDO's fees are reasonable as they are qualified professionals. However, the expected cost of their fees and retention of Eversheds will cut a significant chunk out of whatever the assets of Norton will accrue, after Metro Bank have what is owed to them from the property.

None of this is really a great surprise to anyone. However, it appears likely that the publication of this means that it's now clear there is no real likelihood of anyone buying or taking over the company, as BDO has proposed winding it up instead of continuing discussions with some of the big names that have been thrown around as potentially interested parties.

Wouldn't want to be an unsecured creditor. But it will be interesting to see what eventually happens to the Norton brand name, now that the Chinese have the rights to both of the engines.

[sean5302]

High time the serious fraud office got a grip in the UK.
Thaiumph masquerades as a British company, yet everything is made in the 3 factories at Chonburi.
A bit of assembling at Hinckley by muppets with screwdrivers.
Where was Norton's foundry?
Where was its paint shop?
Who made the fuel tanks.
A disgrace to pretend it was British.

Just look at the UK.
Sir Phillip Green sold BHS to a triple-bankrupt fraudster who ran it aground in a year, causing the UK taxpayer to stump up £300 million pension payments.
Tesco lied anout £326m profits it didn't have. A company that cheated its own shareholders.
Who's in prison?
Nobody.

[Howling Terror]

https://pbs.twimg.com/media/EVkblVfWkAE1GWL?format=jpg&name=900x900
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Diabolical homemade music Bandcamp and Soundcloud
Singer songwriter, Artist and allround good bloke Listen to Andrew Susan Johnston here
The Harry Turner Project

[sean5302]

What I find unforgiveable is that MCN admits they were receiving complaints from Norton owners about the shoddy treatment they were getting for warranty work at Donington.
They were also told about the deposits fiasco.
What did they print? Fuck all.

Just shows you they preferred their potential advertising revenue and press bikes to test rather than the people who buy the paper.
I'll never buy MCN again.

[Howling Terror]

I'm not defending anyone and I'll say this. It's one thing hearing a rumour about financial dealings, and another going to press about it.

Unfortunately MCN and pretty much all bike press and journalism is about product testing and product sales and general biking.
It ain't Dispatches or a hard hitting consumer affairs shizzle.

Latest on Mr Garner is he's just put a fair few million in his pocket.

https://www.motorcyclenews.com/news/norton-motorcycles/
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Diabolical homemade music Bandcamp and Soundcloud
Singer songwriter, Artist and allround good bloke Listen to Andrew Susan Johnston here
The Harry Turner Project

[linuxyeti]

Can't help thinking that really TVS have bought themselves a lemon.. Still, they have a good strong business in India, as well as supplying the smaller bmw's, so, perhaps some of that money will be put to good use, and, put right what is wrong with Norton. Keeping it as a premium brand may not make financial sense in the long run.
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Beware what photos you upload, or link to on here, especially if you have family members on them

[Tankie]

Looks like the new Indian owners of Norton are saying they are going to do a relaunch (Daily Fail ).
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Always learning, everyday is a school day

[Polarbear]

[sean5302]

TVS may or may not make Norton a success, but the reality is that the business has no links with the original company, no heritage and no association with the UK.

I'm reading in Bike magazine that John Bloor has decided that all Triumph production will be at his 3 factories in Chonburi, Thailand.
All production.

Around 50 remaining spanner-monkeys at Hinckley have been made redundant.

Deception to imagine that Thai-umph, Norton, BSA or any other evocative names from the past are anything but a badge on a product from Thailand, China or India.

A complete rip-off for their customers.

[Kris]

[linuxyeti]

[Polarbear]

I wonder if, after this corona virus shite where we haven't been able to source stuff because it isn't made here, the government will start giving big incentives for firms to set up production here, or hike import duties to stop China and co dumping products on us cheaper than can be made here.

Or will it just go back to how it was.
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Triumph Trophy Launch Edition

[linuxyeti]

[wr6133]

[Jewlio Rides Again LLB]

[Easy-X]

This just popped up on my phone:

https://www.bbc.co.uk/news/uk-england-leicestershire-53152943