Bad news for fans of historic British motorcycle brands, as we get word from across the pond that Norton Motorcycles has gone into administration – a British form of bankruptcy.
This news stems from the fact that the British marque has been in financial difficulty for some time, despite statements of the contrary by Norton CEO Stuart Garner.
According to reports, Norton owed the British government £600,000, but was able to reduce that amount by half after a government hearing. Still, Garner protested that another £135,000 should have been lopped off that £300,000 debt because of research and development tax breaks.
Regardless of whose side you take, the fact remains that the boutique motorcycle shop will see its doors closed, while the British government decides what the best course of action will be going forward – primarily for the company’s creditors and for the state’s tax man.
Of note, there is also some talk online that TT racer John McGuinness is still owed a fee for his racing duties with Norton at last year’s Isle of Man TT road races, with more than a few souls chiming in who feel they have been wronged by Garner.
With Norton failing to deliver on its promise of a production V4 superbike, and its twin-cylinder middleweights seemingly vaporware, it will be curious to see where the brand goes from here…if at all. Thanks for the tip, Wil & Kye!
Source: BBC
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