Date: 27-10-20  Time: 03:59 AM

Author Topic: Norton go into administration  (Read 2917 times)

mtread

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Norton go into administration
« on: 29 January 2020, 11:43:14 PM »
All the signs were there.


Pity as the new V4s and 650 twins looked good.


https://www.bbc.co.uk/news/business-51303905

coffee

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Re: Norton go into administration
« Reply #1 on: 30 January 2020, 12:03:43 AM »
It's so sad but the prices were crazy when compared to the competition,they shouldn't be trying to produce a modern Commando,Atlas etc and asking almost double of a comparable Jap model regarding power,economy,weight,ease of maintenance,etc,recipe for disaster. :(
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Re: Norton go into administration
« Reply #2 on: 30 January 2020, 06:03:07 AM »

A non-biker would be forgiven for thinking that there'd been over a century of continuous, successful production reading that story.


It mentions 'financial difficulties' in 2008, but no details of the former decline/s and collapse/s under previous owners :rolleyes




« Last Edit: 30 January 2020, 06:06:58 AM by YamFazFan »
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steve 10562cc

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Re: Norton go into administration
« Reply #3 on: 30 January 2020, 06:50:47 AM »
Just goes to prove you can't trade on just a famous name. You have to  produce bikes people want and can afford not expensive white elephants and race bikes for the nostalgic few. 

YamFazFan

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Re: Norton go into administration
« Reply #4 on: 30 January 2020, 07:47:12 AM »
Maybe this explains why John McGuiness has moved over to a Kawasaki team?
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YamFazFan

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Re: Norton go into administration
« Reply #5 on: 30 January 2020, 09:21:24 AM »

Just goes to prove you can't trade on just a famous name. You have to  produce bikes people want


Which pretty much sums up what went wrong first time around in the 1960's.
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Re: Norton go into administration
« Reply #6 on: 30 January 2020, 09:24:14 AM »
Hardly a shock, has anyone actually seen one on the road?

mtread

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Re: Norton go into administration
« Reply #7 on: 30 January 2020, 10:09:28 AM »
Quote
Hardly a shock, has anyone actually seen one on the road?
No, but I've seen one in a workshop. Seized gearbox.

mtread

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Re: Norton go into administration
« Reply #8 on: 30 January 2020, 10:13:29 AM »
The trouble when you hand build bikes. However good they are, you can't keep the price down. Look at Brough. 60K each and sold in single figures. Compare with Triumph. Bloor took on all the best of Japanese production ideas, and they sell in zillions.

steve 10562cc

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Re: Norton go into administration
« Reply #9 on: 30 January 2020, 10:43:02 AM »
Yes but he learned from the other times triumph went to the wall, gave us decent bikes we wanted to ride and could afford buy & and  run.

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Re: Norton go into administration
« Reply #10 on: 30 January 2020, 10:55:38 AM »
I'm not surprised, I am surprised they've lasted this long.  Old bikes, over priced, delivery and build issues, yes they'll appeal to the Norton enthusiast market but that isn't going to give you long term market. 


Triumph on the other hand, most of their bike looks nothing like their classic stuff, competitively priced, so much bigger market, if they just sold the retro bikes like Norton they'd go the same way. 


Norton learnt absolutely nothing from their original demise, sad but true.           
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mtread

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Re: Norton go into administration
« Reply #11 on: 30 January 2020, 10:56:27 AM »
The new Norton 650 scramblers are/were going to start at 10k. Competition for the Ducatis and Street Scrambler. Pity if they don't make the shops.

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Re: Norton go into administration
« Reply #12 on: 30 January 2020, 03:59:16 PM »
I'd never seen one of these before last Sunday. Hope he's stockpiled some spare parts :lol .



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Re: Norton go into administration
« Reply #14 on: 01 February 2020, 05:38:04 PM »
yup, its starting to look like a long con. That leaves a bitter taste, especially as most of us really wanted Norton to fly again. .  :( :( it did seem a little odd that they were developing and marketing the v4 and the smaller bikes me and Dave saw at the show, whilst the 'Classic' Commando still had a reputation for reliability to claw back. It would have made much more sense to sort those bikes first; perhaps even to do what Honda did after the disastrous vf750, over engineer new vfr versions and sell them at a loss to get their reputation back. It seems Garner had the funds, albeit gained in what is turning out to be some very shady dealings. sad day all round really.

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Re: Norton go into administration
« Reply #15 on: 01 February 2020, 05:54:33 PM »
btw theres talk the real atlas engine never actually ran, and was a 3d printed piece of plastic. Hence we couldn't get near it during the show. If thats true, thats even worse than what garner did to spondon...

mtread

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Re: Norton go into administration
« Reply #16 on: 01 February 2020, 11:52:26 PM »
Quote
btw theres talk the real atlas engine never actually ran, and was a 3d printed piece of plastic. Hence we couldn't get near it during the show. If thats true, thats even worse than what garner did to spondon...
I thought I remember seeing a cut-through engine in a display case at the show. Or perhaps that was just the V4.
Wonder if they'll be at the London show week after next? :rolleyes
Picked up some brochures last time. Collector's items?  :lol

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Re: Norton go into administration
« Reply #17 on: 02 February 2020, 01:39:57 AM »
Was just reading that John Mcguiness is asking if anyone sees Garner tell him to get in touch as he owes him £60,000 for last years TT ! :eek
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steve 10562cc

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Re: Norton go into administration
« Reply #18 on: 02 February 2020, 06:38:42 AM »
Was just reading that John Mcguiness is asking if anyone sees Garner tell him to get in touch as he owes him £60,000 for last years TT ! :eek
From what I've been reading that's just a drop in the ocean.

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Re: Norton go into administration
« Reply #19 on: 02 February 2020, 09:59:29 AM »
Garner's other 2 companies one being Priest House Hotel in Castle Donington is also in administration, seems there's a theme here.  He and his companies have had millions poured into them over the years and Norton fails because they can't pay 300k tax bill, perhaps the same for the others.

I smell a huge art here  :stop like they didn't know they've got to pay the tax!  I'd also take a bet they've not paid the employers pension contributions either, another Phillip Green stunt.  Garners more than likely put Norton in the name of his aunt or such like, in which case he owes nothing and pops up somewhere else.

According to reports last year Norton had £6.7 million in sales on which they made pre tax profit £33,701................. really  They pay over inflated prices for services, by companies they or their mates/family own and get nice little kick backs all round.   The HMRC has a lot to answer for how can a business run like that without it ringing alarm bells.         
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mtread

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Re: Norton go into administration
« Reply #20 on: 02 February 2020, 11:38:44 AM »
My guess is the £300k is mostly VAT. You sell a bike, charge the customer 20% VAT, then stick it in your pocket.

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Re: Norton go into administration
« Reply #21 on: 02 February 2020, 11:58:57 AM »
you wouldn't people could still run long firms in this day and age. but its looking very much like that was the case. I got the 3d plastic printed engine nod from a tuner who has worked with them, thankfully for him far enough back in the past that he got paid. Give Nortons their due though, when they 'hole a piston' they dont foc about... :lol

mtread

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Re: Norton go into administration
« Reply #22 on: 02 February 2020, 12:12:12 PM »
Think they need to run a compression test  :rolleyes

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Re: Norton go into administration
« Reply #23 on: 05 February 2020, 08:40:31 PM »
 Just seen this on twitter in reply to MCN.


 
Quote
by my maths,AT LEAST £33M income that we know of by your approx stats & figures) & 625 bikes made? Obvs that figure doesn’t include all business outgoings,still an average of £54k per bike?
£54,000 a bike? 




 

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Re: Norton go into administration
« Reply #24 on: 07 February 2020, 08:11:17 PM »
Just watched a U/tube video and they've took millions in deposits from the U.K,U.S.A.,and Japan and even invited them to some swank do recently as prospective buyers!! talk about taking the piss. :foc
« Last Edit: 07 February 2020, 08:12:20 PM by coffee »
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