Norton goes into administration

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The demise of Norton

Horrific story, feel so sorry for the pensioners, he also destroyed Spondon Engineering.

He initially bought a 50% share in Spondon Engineering in 2008 (for ?360k), however only initially paid ?90k followed by another ?90k the following year. Unknown to the other director in 2008 he charged the entire assets of Spondon Engineering, including his shareholding to Tudor Capital Management for ?1.2m. He then took the ?1.2m to the US to buy the Norton Brand !!

Anyone met this unsavoury character?

https://www.derbyshirelife.co.uk/out...-ltd-1-3918557

https://www.superbike.co.uk/article/...from-the-start

https://www.superbike.co.uk/article/...start-part-two

https://www.visordown.com/news/gener...st-going-under

https://www.bmf.co.uk/news/show/mp-c...rnment-funding

https://www.theguardian.com/busines...torcycles-collapsed-amid-acrimony-and-scandal
 
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I believe Indian company TVS has bought and saved Norton now. Heard this over the weekend.
 
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