Unable to dodge the tax man, Norton Motorcycles UK has been placed under administration. Earlier, entrepreneur and property developer Stuart Garner, who owns the Norton brand name, said Norton owed UK tax authorities 300,000 pounds sterling (RM1.61 million) and could be liquidated if it was not given more time to pay.
The decision to place the Castle Donington firm under administration is likely to put 100 jobs in jeopardy. In 2019, Garner had said Norton was doing well and there were plans to open another production facility.
Bought by Garner in 2008 after the previous owner faced financial difficulties in bringing a prototype to production, Norton evolved into a premium price, low volume, hand-built motorcycle manufacturer. Its most recent model, the Norton V4 RR, was priced at 28,000 pounds sterling (RM149,886).
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Triumph should come to the rescue!
Naw! Geely can come to the rescue.
They should just follow Triumph’s formula. Affordable mid range bikes with one or two premium models at the top and a tie up with a developing market manufacturer for entry level bikes to provide a constant feed of income.