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Nortons goes into administration.....

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  • Nortons goes into administration.....

    As per the title, it happened about 5 days ago. Apparantly they owe HMRC around £300K in overdue tax, and consequently they have been forced into admin. It's just the tip of the iceberg though, there is a substantial stink about small private investors who have been ripped off by a conman by 'investing' in a pension fund that provided funding for Norton, turned out to be bogus and they have lost the lot now. A number of Norton financial people have been conning people out of money to invest in Norton. Also, many customers have paid deposits and even the full price for machines that were never going to be made, they too have lost whatever they paid. So basically, the whole thing was a house of cards scam. Even the government backed loans for Norton, so will now have to pay up to the respective banks etc. If I'd paid a deposit for a bike, or even the full price, I'd be doing a midnight raid to get hold of any complete bike I could push out of the door!

  • #2
    Damn sad. That once proud brand, with all the great bikes they made, victim of the shysters now.

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    • #3
      And not for the first time!

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      • #4
        The real sad part to me about the whole thing was seeing Velo owners basically voicing their satisfaction of their demise, shitting on their achievements cos they didn't just live in the past and knock out faithful replicas of old machines, but dared to do something new. I'm not really super interested in the brand, new or old, but they were making some great bikes. Shame there's no Chinese investor ready to drop some cash on it to help it through. I guess Hickman already has the superlight bikes he needs for the TT this year, and still intends on using them, cos it'd be great to see a posthumous podium.

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        • #5
          And make no mistake, the Manx Nortons were at least the equal of our revered KTTs.
          And anyone who's had a Commando around some fast twisties will know, they were GREAT machines. (Especially an 850 Mk2A)

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          • #6
            Originally posted by Don View Post
            Shame there's no Chinese investor ready to drop some cash on it to help it through..
            Needs another Mr Bloor type to make it work. Messing around on the sidelines with overpriced tribute machines that have a look of middle aged look alikes with a bloated waistline was never going to work. Much like those GROTESQUE looking 'new' Broughs, at the absurd price being asked I don't see them as long for this world either. I don't think either attempt does justice or respect to the illustrious brands.
            I even cringe at the 'new' Triumph twins, they may be ok as motorcycles but trying to style the engine and other features to look like the original is horrible. Then to produce further derivitives, like 'bobbers' (lord, I HATE that term!!) and scramblers just increases the pain.

            Sorry to rant a little but they could do SOOOOO much better!!

            You don't see MV trying to copy their historic designs and yet their designs are mold breaking, exciting and individual with an MV identity.

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            • #7
              Yeah I'm of a similar opinion there. No interest in their 'retros' and whatever incarnations of original models they were trying to market, but they did some good forward thinking design which I was hoping would be the main direction they went in. Good chassis, good engines, modern well engineered bikes. 100hp 650cc parallel twin in a full-sized road bike chassis that wasn't built with naff OEM components - something I've been wishing for for years. Short of taking an ER6, junking it apart from the frame and engine, taking the swinger from a versys, forks from a zx6r, fairing from wherever, custom brackets etc.. Might as well just get a panigale V2. I rode last years 959 which was amazingly easy to ride, and remarkably comfortable, no chance of getting a go on a norton superlight now... but Aprilias 650 is just around the corner... similar aim - real world sportsbike

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              • #8
                The fraud stink on this story is becoming even worse. This Stuart Garner bloke, the owner of Norton, is turning out to be a proper criminal! However, due to the involvement of the UK government, who not only invested public funds into Norton, but used Garner as a trade envoy on missions to China etc, etc, I have an unpleasant feeling he is going to walk away from it, to save embarrassing questions being asked in the event of a public enquiry!! Even Theresa May was buddying up to this scam artist at one time!!

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