Norton Motorcycles have been placed in administration as last-minute attempts to save the business appear to have failed to secure the backing needed to continue trading. The firm launched a share scheme in November with a view to raising the cash required to fulfil their order book, but the lure of a single investor saw the offer withdrawn while Norton attempted to construct a deal that could underpin the business’ critical cash-flow problems.
With echoes of the near-collapse of the business in 2012 when cash-flow issues very nearly sank the firm just four years after businessman Stuart Garner bought the rights back from American ownership under Kenny Dreer, it appears that the same problem has finally pushed the business past breaking point as Metro Bank appointed administrators BDO.
Here are a couple of interesting articles by: Morebikes & The Guardian on Norton, it's recent history & fall. Some serious questions have to be asked - this company had everything going for it - yet it has crashed. Bike manufacturers - take note!
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