Norton goes into administration

[Rednine]

Wasn't Garner granted some funds by way of a grant courtesy of George Osborne????

 

[JamieMac]

^^^ £4 million from memory, plus pension fraud....

 

[JamieMac]

https://www.itv.com/news/2020-02-12/norton-motorcycles-calls-for-investigation-government-funding-business-administration-stuart-garner/

Worth watching the videos...

 

[Kennybush]

How has this guy got away with it for so long. Hopefully he ends up in the gutter

 

[preynol1]

Unbelievable this has gone on for so long.


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[Bikeracer1098]

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

 

[Bikeracer1098]

Re: The demise of Norton

Government loans and funding of nearly ?8m
Pensioners invested ?14m in 5 year pension fund

https://motorbikewriter.com/governme...orton-funding/

 

[Schuey]

I believe Indian company TVS has bought and saved Norton now. Heard this over the weekend.

 

[stuartb]

Sign the petition..

http://chng.it/fK7wLrPDS9



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[alex]

I believe Indian company TVS has bought and saved Norton now. Heard this over the weekend.

Yes, saw the same. It was never going to be bought by a British firm unfortunately.

 

[Schuey]

Signed, this Garner guy is a right piece of work

 

[soofsayer]

https://www.bbc.co.uk/news/uk-england-leicestershire-52331528

 

[stuartb]

Read an article on it earlier..smart move..look at their home market..

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[Rednine]

At least the Indians do a great job with Royal Enfields unlike China with MG. :disgust:

 

[JamieMac]

True and with the Harris team designing them (Royal Enfield), they won't be rubbish.....