Norton goes into administration
The Norton Motorcycle Company, one of the most famous British motorcycle marques, has entered administration.
Although the troubled firm received a £1 million lifeline from a single investor late last year, recent difficulties with HMRC over a research and development tax relief saw it appear in the Insolvency and Companies Court on January 9 to attempt to avert a winding up petition. Unfortunately, these efforts were not successful and the Leicestershire firm is now under the control of administrators BDO.
The marque was famously relaunched in 2008 by British business Stuart Garner after it became a high-profile casualty of the British motorcycle industry in the 1970s, but the Norton name dates back to 1898 when it was founded by James ‘Pa’ Lansdowne Norton. The firm made major contributions to wartime production, building nearly a quarter of all motorcycles used in WWII by the British military, and its list of racing honours includes victories at the Isle of Man TT.
As doubts have been expressed over the company’s ability to remain a going concern, approximately 100 jobs are now at risk at the company’s Castle Donnington headquarters.
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Picture credit: Michael Kauer