Author Topic: Norton enters administration  (Read 869 times)

0 Members and 1 Guest are viewing this topic.

Offline richtea

  • Administrator
  • Hero Member
  • *****
  • Posts: 2766
  • Karma: +34/-1
    • View Profile
  • My K bike model:: K1300S
  • Location:: Banburyshire
Norton enters administration
« on: January 30, 2020, 02:43:43 pm »
https://www.motorcyclenews.com/news/norton-motorcycles/

Maybe an adventure bike would have been be cheaper to create rather than a brand new V4 (as in less demanding design limitations on power, weight, etc).
But not very Norton, I guess.

Offline raesewell

  • Administrator
  • Hero Member
  • *****
  • Posts: 4825
  • Karma: +43/-3
    • View Profile
  • My K bike model:: Yamaha FJR (2013)
  • Location:: Normanton West Yorkshire
Re: Norton enters administration
« Reply #1 on: January 30, 2020, 03:17:50 pm »
They have been in trouble for a couple of years. I think the bikes were way overpriced and in a niche market.

Offline chriscanning

  • Hero Member
  • *****
  • Posts: 1691
  • Karma: +30/-4
    • View Profile
  • My K bike model:: K1200r Sport
  • Modifications and add-ons:: BST's Wilbers Kehedo Rexxer Puig Akra
  • Location:: Junction 7 M6
Re: Norton enters administration
« Reply #2 on: January 30, 2020, 03:39:54 pm »
There’s all sorts too come out but the short story is ‘Never cross the taxman’

Offline richtea

  • Administrator
  • Hero Member
  • *****
  • Posts: 2766
  • Karma: +34/-1
    • View Profile
  • My K bike model:: K1300S
  • Location:: Banburyshire
Re: Norton enters administration
« Reply #3 on: January 30, 2020, 07:09:46 pm »
There’s all sorts too come out but the short story is ‘Never cross the taxman’

Spot on Chris. Here's the dirt. Its ugly:

https://www.theguardian.com/business/2020/jan/30/taken-for-a-ride-how-norton-motorcycles-collapsed-amid-acrimony-and-scandal

Offline chriscanning

  • Hero Member
  • *****
  • Posts: 1691
  • Karma: +30/-4
    • View Profile
  • My K bike model:: K1200r Sport
  • Modifications and add-ons:: BST's Wilbers Kehedo Rexxer Puig Akra
  • Location:: Junction 7 M6
Re: Norton enters administration
« Reply #4 on: January 30, 2020, 09:12:26 pm »
Talking to someone tonight hear he’s even used and spent the employees pension fund......

Offline alaskier

  • Full Member
  • ***
  • Posts: 182
  • Karma: +2/-0
    • View Profile
  • My K bike model:: K1300 GT
  • Modifications and add-ons:: Crud catcher
  • Location:: Orpington, Kent
Re: Norton enters administration
« Reply #5 on: January 30, 2020, 09:13:50 pm »
This has all happened before. Back in he mid to late eighties I invested £100 in the Norton company that at the time made the rotaries. Its value rocketed to well over £900 then settled back to £5/600. After about a year or so the MD disappeared along with my money.

I still have the share certificate somewhere in the hope that one day the paper it is printed on will be worth more than my original £100 outlay. Junk&disorderly and the amount they seem to get for old oil cans continue to give me hope of wealth beyond the dreams of avarice one day ...


Offline Belco100

  • Sr. Member
  • ****
  • Posts: 430
  • Karma: +4/-0
    • View Profile
  • My K bike model:: K16GT + S1000XR Triple Black
  • Location:: Essex
Re: Norton enters administration
« Reply #6 on: January 31, 2020, 09:28:22 am »
Talking to someone tonight hear he’s even used and spent the employees pension fund......

That could be quite a scandal. Looks like there were thre paensions funds run by Norton ...

https://www.rideapart.com/articles/395990/norton-motorcycles-stuart-garner-pensions/?utm_source=RSS&utm_medium=referral&utm_campaign=RSS-category-

Offline chriscanning

  • Hero Member
  • *****
  • Posts: 1691
  • Karma: +30/-4
    • View Profile
  • My K bike model:: K1200r Sport
  • Modifications and add-ons:: BST's Wilbers Kehedo Rexxer Puig Akra
  • Location:: Junction 7 M6
Re: Norton enters administration
« Reply #7 on: February 12, 2020, 03:56:16 pm »
See into today’s comic buyer took his bike back to Norton to have a few bits and bobs fixed,the admin phoned him up to say the bike had been stripped and there was just engine and frame left.... after paying £44,500.

Offline richtea

  • Administrator
  • Hero Member
  • *****
  • Posts: 2766
  • Karma: +34/-1
    • View Profile
  • My K bike model:: K1300S
  • Location:: Banburyshire

Offline richtea

  • Administrator
  • Hero Member
  • *****
  • Posts: 2766
  • Karma: +34/-1
    • View Profile
  • My K bike model:: K1300S
  • Location:: Banburyshire
Re: Norton enters administration
« Reply #9 on: April 17, 2020, 07:49:18 pm »
Sold:
https://www.motorcyclenews.com/news/norton-motorcycles/

No news on whether that money will get back to the small investors / pension people.

Offline chriscanning

  • Hero Member
  • *****
  • Posts: 1691
  • Karma: +30/-4
    • View Profile
  • My K bike model:: K1200r Sport
  • Modifications and add-ons:: BST's Wilbers Kehedo Rexxer Puig Akra
  • Location:: Junction 7 M6
Re: Norton enters administration
« Reply #10 on: April 17, 2020, 08:14:00 pm »
My MCN turned up today got half way through article and gave up. How on earth has he got away with it for so long.
« Last Edit: April 17, 2020, 09:44:20 pm by richtea »

Offline Phmode

  • Administrator
  • Hero Member
  • *****
  • Posts: 10082
  • Karma: +80/-19
  • I am the evil webmaster, do not cross me!
    • View Profile
  • My K bike model:: BMW K1300S 2012
  • Modifications and add-ons:: Sargent Seat, Powerbronze Screen, Akrapovic Silencer, Ilmberger Hugger, K12S Black Top Yoke, Helibars, Cruise, Centre Stand, Sidestand Extender, Full 3M Film, Barkbusters Hand Guards in winter.
  • Location:: Ledbury, Herefordshire
Re: Norton enters administration
« Reply #11 on: April 18, 2020, 12:43:10 pm »
Greed, lack of business acumen, no oversight and a devious mind  :)

So, would you buy a Norton?