Nortons current state
Discussion
Looks like more asset stripping before Administration
https://www.visordown.com/news/general/norton-sold...
https://www.visordown.com/news/general/norton-sold...
Pothole said:
NS400R said:
Jazzy Jag said:
Unless Jinlang got possession of the 961 engine drawings and tooling before administration, they'll just be unsecured creditors like everyone else.article said:
But Jinlang say the deal for the 961 engine platform, including all of the engine tooling, is not part of the administration process as the deal was already done.
There are photographs of the Jinlang Science and Technology Co LTD company director, Huacong Wu, signing a contract with Garner at the end of December.
A spokesman for Jinlang said: "We will work with our design partner in Italy to develop a new motorcycle using the 961 engine, which we will sell worldwide."
They may well have taken them away already.There are photographs of the Jinlang Science and Technology Co LTD company director, Huacong Wu, signing a contract with Garner at the end of December.
A spokesman for Jinlang said: "We will work with our design partner in Italy to develop a new motorcycle using the 961 engine, which we will sell worldwide."
Feel sorry for everyone taken in by Norton (again).
Nice there may be a future supply of parts.
Dubious about how much they will be needed as you rarely see one moving.
Staggered they only really sold one a week and that somehow paid 100's of peoples weekly wages.
Disappointed nobody seemed to care about these facts at the time.
Worried that maybe a lot of businesses are similar scams.
Wonder how many of them are pulling in government help at the moment.
Dubious about how much they will be needed as you rarely see one moving.
Staggered they only really sold one a week and that somehow paid 100's of peoples weekly wages.
Disappointed nobody seemed to care about these facts at the time.
Worried that maybe a lot of businesses are similar scams.
Wonder how many of them are pulling in government help at the moment.
Fundoreen said:
Nice there may be a future supply of parts.
Dubious about how much they will be needed as you rarely see one moving.
Staggered they only really sold one a week and that somehow paid 100's of peoples weekly wages.
Disappointed nobody seemed to care about these facts at the time.
Worried that maybe a lot of businesses are similar scams.
Wonder how many of them are pulling in government help at the moment.
They sold more than one a week, they didn't supply much more than that however.Dubious about how much they will be needed as you rarely see one moving.
Staggered they only really sold one a week and that somehow paid 100's of peoples weekly wages.
Disappointed nobody seemed to care about these facts at the time.
Worried that maybe a lot of businesses are similar scams.
Wonder how many of them are pulling in government help at the moment.
Birky_41 said:
That man is dare I say it a dead man walking. At the very least he will be serving time. I'm sure (right or wrong to say this) there will be people quietly after him over this
MCN are certainly going for the positive PR now. If only they hadn't kissed his backside for a decade and had blown his conman cover when their first journo suspected something, or the 5th time someone told them their bike was a year late and still not delivered maybe they could have done the other creditors and the rest of us a favour.graeme4130 said:
Mmmm. I hope they did extensive due diligence, have a very good legal agreement and have lined up some lawyers as he seems a slippery customer and so there must be some risk of not having acquired all the rights to the Norton name and designs or that there are undisclosed liabilities. However overall good news. I think the Norton bikes are good in principle - so if they can invest the funds to make them work/reliable and guarantee supply of quality parts then the end product could be good. I thought the Atlas range might make good road bikes.
Esceptico said:
graeme4130 said:
Mmmm. I hope they did extensive due diligence, have a very good legal agreement and have lined up some lawyers as he seems a slippery customer and so there must be some risk of not having acquired all the rights to the Norton name and designs or that there are undisclosed liabilities. However overall good news. I think the Norton bikes are good in principle - so if they can invest the funds to make them work/reliable and guarantee supply of quality parts then the end product could be good. I thought the Atlas range might make good road bikes.
https://www.ft.com/content/35640e2b-f5d4-4bd7-a419...
More good noise coming via the FT; with plans to restart and increase production - the best news for all - fingers crossed!
More good noise coming via the FT; with plans to restart and increase production - the best news for all - fingers crossed!
Edited by Pope on Thursday 23 April 18:14
Pope said:
https://www.ft.com/content/35640e2b-f5d4-4bd7-a419...
More good noise coming via the FT; with plans to restart and increase production - the best news for all - fingers crossed!
[Joint MD of TVS] said production at its Donington Park site in Derby would be restarted to fulfil outstanding customer orders, but that Norton would require a newer, larger factory within six months to begin its expansion plans.More good noise coming via the FT; with plans to restart and increase production - the best news for all - fingers crossed!
Edited by Pope on Thursday 23 April 18:14
Are they going to buy 961 twins from the Chinese, then?
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