Norton – Was it a fraud from the start? Where has all the money gone?

Article by John Hogan - Editor of SuperBike Magazine. You’re about to read the first in a series of interviews relating to the Norton story. The story is not a good one for the UK motorcycle industry.

I first wrote about Norton in SuperBike magazine back in 2012, expressing my concerns. Stuart Garner called me a couple of weeks later and tried to give me the hairdryer treatment. He sounded like a posh schoolkid that had hidden his marbles in his bag and then blamed me for stealing them. My doubts of Stuart Garner’s ability to run a motorcycle brand like Norton have never gone away.

The mainstream Norton story relates primarily to pension fraud, you can read about that in detail in the Guardian. If you’re tired of reading, you’ll also be able to watch various ITV pieces on the same subject. I played a small part in helping those mainstream journalists understand the oily nuts and bolts side of the Norton business. During my research I’ve spoken to current and former employees, from the shop floor to the boardroom. A former accountant, Stuart Garner’s former PA, a burned business partner, an investor, multiple Norton buyers, Norton franchised dealers in the UK and on the other side of the planet, various Norton racers and Mr Stuart James Garner himself. Everything I’ve written is the result of speaking to the people involved, some were happy to be named and others weren’t. That’s their choice and I can respect that. It makes sense to me to start the story in 2008, when Stuart Garner bought into Spondon Engineering, prior to buying Norton and bringing it back to the UK.

You can read each of these interviews and make your own mind up as to whether Stuart Garner made a mistake thanks to Brexit and has only recently ran into trouble. Or is it possible that he’s planned every single element of the largest frauds the UK motorcycle industry has ever seen, and he began doing so back in 2008?

www.superbike.co.uk

Mike & Don visit the Norton Motorcycle factory in Shirley, Solihull

 

For some time Mike & I had been planning a two day trip on our bikes up to Brum. The plan was: Day one (Weds 22nd May): Norton factory tour & test ride. Day two (Thurs 23rd May) the National Motorcycle Museum. Dates & visits arranged, pub stayover booked, plans in place! However, as that day approached the weather round Brum looked grim. We bottled it & left the bikes / took Kim's Mini ;0). Just as well as it turned out: day one varied between constant rain & Biblical - literally couldn't see the surface of the motorway at one point!

When we arrived at Norton we were warmly welcomed by the lovely receptionist, then joined by Kevin from sales. He showed us round their collection of bikes in reception: several historic machines & variants of their two current models: Commando 961 & V4. The Commando 961 is a classic looking machine, built to very modern standards (reliable LOL!). The V4 is a state of the are superbike that ranks up there with the best of them!

We then commenced the factory tour! Sadly no-one is allowed to take photos / video in the factory itself. However here is an amazing drone flythrough video they produced earlier! This covered most areas of the plant: parts stores, welding, polishing, engine assembly, rolling chassis assembly, dyno / rolling road, and the various levels of checks to finished bikes. Attention to detail is unbelievable - skilled staff are involved throughout the process.

As the weather was still chucking it down we decided that taking the Commandos out would have made a lousy test ride, so kept our fingers crossed for the following day. We drove to our pub The White Lion Inn, Hampton in Arden & also had a drink & some really tasty Indian nosh at the Soho Tavern, Hampton In Arden. 

Day two, no rain, so we decided to abandon plans for the NMM visit (another trip there is planned for next month!). I called Kevin at Norton and hastily arranged for a test ride. We drove over, got introduced to our bikes & were off! We rode our two Commando 961 SPs 40+ miles over two hours, from the factory in Shirley: South through Henley-in-Arden, down to Stratford-upon-Avon. By some miracle we didn't get lost as Mike & I are both pants with directions / navigation. God Bless Kevin for numpty proof instructions!

The weather was cool, overcast. The roads were dry & scenery stunning! The first hour I struggled to gel with the bike - but it was me - or at least my mindset. I was trying to ride the Commando like I ride my Honda - which is a very different bike. When I started adapting my style to the way the Norton wants to ride: I had a hoot! Mike loved his Commando from the get go. The difference between us is that his two bikes are Triumph Modern Classics. A much closer style of bike to the Commando than my Honda CB1000R+.

Pros: Stunning design & looks! Fantastic build quality & attention to detail. Hand built in England. Top drawer componentry (Ohlins front & rear suspension, Brembo brakes, etc). Ride quality & grip is astounding! Fantastic soundtrack from the twin cylinder air/oil cooled engine & delicious exhausts! Walruzoar

Cons: Could do with more grunt (my CB1000R has 143bhp, Commando has 77). Turning circle is very wide. Vibes can be intrusive. The bike I rode had click up footpegs which I kept getting tangled up with - this has now been resolved in current production (spring loaded pegs). The sidestand was a bit fiddly to drop down.

I have a deep love of the Norton brand, going back to when I was a sprog. That's why there's been soooo many articles about them on my Blog - I truly care about Norton: it's heritage & future. 

Both of Norton's current bikes (the Commando & V4) are superb. The V4 is "above my pay grade" LOL! The Commando is stunning, I'd love one, but probably not as my only bike. Deffo in the fantasy garage along with a Gold Wing Tour & CRF250L. 

MikeyG adds: I own a Bonneville T100 and a Street Twin and I considered them to be the best retro-style machines until I rode the superlative Norton Commando. 
This IS THE true British retro motorbike. Its looks and sounds are unsurpassed, it is full of character and a delight to ride. 
The sound of the engine is the best around and once the bike was warmed I had a lovely smooth ride on the best-looking motorbike.  When I opened the throttle ...my goodness!!!! ...the vibration through the footpegs and seat was just brilliant. 
If I had an unlimited budget it would be my choice for the ride on a sunny day to meet up with like-minded friends to admire a thing of beauty.

Massive thanks to Norton, & Kevin in particular to give us this fantastic opportunity. I'd love to relive him of a black & gold Commando 961SP, but sadly not for now, at least...

Link to Google Photos

www.nortonmotorcycles.com

New high-tech Norton factory heads for March completion

 

Norton’s high-tech new headquarters is nearing completion and should be fully functional by the end of March.

Over 50 high quality, new jobs have already been created and more are expected to follow as the business activity grows providing a welcome boost to the local economy.

The site in Solar Park, Solihull is the most advanced facility that Norton has ever had after a multi-million pound investment from Norton’s Indian parent company, TVS Motor Company. It will be the most advanced manufacturing facility in the 122-year-old motorcycle brand’s history.

The premises will be the central hub for all of Norton operations, providing a permanent base for all staff. The new headquarters will be home to design, engineering, purchasing, sales, marketing, and support teams as well as the skilled production team that is resuming the manufacture of motorcycles. Some of the specialist tooling and equipment previously used by Norton has been carried over from the Donington premises to the new site in Solihull.

www.motorcyclenews.com

What's the latest news regarding Norton Motorcycles?

The question of who is going to buy Norton appears to have been answered: TVS, a large-volume Indian motorcycle producer, has bought Norton in a £16m cash deal. Jobs have been secured and, TVS claims, the future of Norton is now secure.

In case you've missed any of SuperBike's coverage of the Norton debacle so far, we've rounded it all up here. 

Click here to sign the Change.org petition to call for a government investigation into Stuart Garner's conduct & dealings with regards Norton.

SuperBike Magazine

The Norton Commando is back & better than ever!

 

THE 2023 Norton Commando 961 is everything the 2019 model wished it could be. But that has been no easy feat. Norton has spent over 100,000 man-hours refining an icon, a machine that is (and always has been) all about style and turning heads. 

Billet aluminium everywhere, the hand-finished Commando hails from the Solihull factory as a self-confessed ‘best ever’ version of the iconic British Motorcycle.

Alex was out in the North Wessex Downs, near Newbury, for the launch ride (or, re-launch if you will) of a TVS-backed new-Norton’s next, newest, and arguably most important release.

Where the first-ever Commando was first seen in 1967, with over 55,000 models sold since then, this machine is every bit of an icon as ever. Despite recent troubles (click here for more info), Norton is confident to announce that this is the best-ever Commando, benefitting from hundreds of millions of pounds worth of investment & man hours to ‘re-launch’ a timeless machine that has clearly been passionately built in the UK.

www.visordown.com

Norton to discontinue V4SV, V4CR and Commando 961 to make way for new line-up

Norton Motorcycles have confirmed that they will no longer be manufacturing the V4SV, V4CR or Commando 961 bikes to make way for their new model range.

Norton are expected to unveil their new line-up at EICMA in November, and these models are the first all-new bikes following firm’s acquisition by TVS Motor Company in April 2020.

“The Norton V4SV, V4CR and Commando 961 are revered the world over as the latest in a long line of iconic Norton motorcycles.” Executive Director, Richard Arnold said “As one chapter ends, another begins and the waiting is now almost over to reveal our exciting future.”

www.motorcyclenews.com

Norton Motorcycles ex-boss Stuart Garner pleads guilty to illegal pension investments

Stuart Garner, the former owner of Norton Motorcycles, has admitted to illegally investing an estimated £11m from the firm’s pension scheme back into the business.

Garner was the sole trustee of three contribution schemes (Dominator 2012, Commando 2012 and Donington MC) that invested in Norton. Between 2012 and 2013, 227 people invested in the scheme in return for preference shares.

Under the employer-related investment (ERI) rules, no more than 5% of the total value of the schemes should have been invested, however each scheme was invested in Norton in full.

Subject to certain exceptions, it is a criminal offence to invest more than 5% of the current market value of scheme resources in ERIs, so Garner’s actions were passed to the court by The Pensions Regulator (TPR).

www.motorcyclenews.com

Norton's hiring: new owners expanding workforce

The new owners of Norton are wasting no time in getting up to full strength with job adverts for 15 roles posted on their website. The brand, now owned by Indian company TVS, are on the hunt for people to fill a range of engineering and admin roles including a quality manager, senior design engineer and principal powertrain engineer.

"We have begun the process of planning for the restart of the business and are looking to both fill some existing vacancies and add to the capabilities of the organisation," Norton’s interim CEO, John Russell, told MCN.

This intake will grow the headcount of the business by over 25% from the 55 members of staff it had when TVS took over, and it doesn’t sound like it will be the last expansion either.

Russell added: "The roles we are recruiting are across the organisation, engineering, operations, sales, marketing and service. Initially we are looking to fill around 15 posts and will be looking to further rounds of hiring as we grow Norton to its full potential."

www.motorcyclenews.com

Bikesure - Forever Bikes: John Cann’s Norton Dominator. Over 60 years on one bike!

John Cann’s Norton Dominator is much more than just a motorcycle. It’s an old friend, a time capsule that brings back memories of teenage freedom, youthful holidays and taking the washing home for your mum.

John was just 18 when he paid £165 for the 1958 Norton and, now, the best part of six decades later, he’s still regularly riding this symbol of the heyday of British motorbikes.

We’re sitting in his garden in south Norfolk, trying to find some shade on a roasting July day, the Model 99 Dominator resting on the patio and ready to flex its muscles.

John’s wife, Mary, who met her husband a couple of years after he bought the Norton, serves cold drinks as we trace the story of man and bike back to his childhood in the 1950s.

www.bikesure.co.uk

Norton Motorcycles faces collapse as the firm enters administration

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!

www.motorcyclenews.com

Ex-Norton CEO ordered to repay £14 million

The former CEO of Norton Motorcycles, Stuart Garner, has been ordered to repay approximately £14 million to three pensions funds he controlled in a ruling by the Pensions Ombudman. 

As the BMF has previously reported, Mr Garner failed to appear at a public hearing held by the Pensions Ombudsman on February 13th to investigate complaints made about the three pension schemes – the Commando 2012 Pension Scheme, Donington MC Pension Scheme and Dominator 2012 Pension Scheme – which were affected by the collapse of Norton. It is understood that money belonging to more than 200 savers was lost. 

The Pensions Ombudsman upheld a number of complaints, and ruled that Mr Garner “acted dishonestly and in breach of his duty” and that maladministration had occurred. He was ordered to pay the money back with interest, and payments to recognise the “distress and inconvenience” of the applicants who brought the complaints were also ordered.   

This is not the first ruling the Pensions Ombudsman has made regarding Mr Garner. In an earlier ruling about the Commando 2012 pension scheme, the Ombudsman sharply criticised Mr Garner as being in “dereliction of his duties as trustee” and said that “I find his behaviour inexcusable.”  

www.bmf.co.uk

Norton Motorcycles - on the way back to fighting trim

 

NORTON Motorcycles has endured its fair share of headlines over the past 12 months but from a bleak situation, the firm is now courting considerably more positive publicity as it heads into 2021 with a fresh outlook.

Indeed, the landscape could not be any more different; staff have been taken on, motorcycles are being readied for manufacture and the final pieces of the puzzle are beginning to fall into place.

Much of the news regarding Norton was - in the early days of the collapse - a torrent of negative energy, solely aimed at the previous administration. One of the biggest mountains John Russell (Interim CEO) and new owners TVS have to climb is turning that negative feeling into a positive outcome for existing and potential customers.

Read the full article here: www.visordown.com

Norton Motorcycles: Chinese firm bought rights to 961 engine platform

Norton sold the rights to the 961 engine platform before the company went into administration, it has been revealed.

Chinese company Jinlang, who make scooters and 125cc machines, say they did the deal with Norton’s owner Stuart Garner at the end of 2019. Metro Bank called in the administrators on January 29 after a search for investors proved unsuccessful.

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.

www.motorcyclenews.com

For Sale: 1921 Norton 490cc 16H. £5,175. One careful owner ;0).

As for the dug-up 1921 Norton 490cc 16H (pictured above), Walker said: “There will be a lot of buried motorcycles across the country. Sometimes bikes have even been used for landfill but that makes the ones that have survived all the more rare.”

But the Norton 16H was far from being a complete motorcycle. It was, quite literally, a heap of rusted parts. And yet, even in its skeletal form, the 16H sold for a whopping £5,175.

This is a great article all about the joy, & immense value of "Barn Finds". 

Now, does anyone have a barn?...

www.bennetts.co.uk

New 1200cc V4 Norton road bike - on the way...

Norton has revealed details of its 200bhp, 1200cc V4-powered sports bike (set for release in 2017):

• 1200cc 72 degree V4 - 200+bhp but focus on drivability, character and design quality.
• Full carbon body work.
• Aluminium fabricated main frame made from aerospace aluminium and billet parts, welded in house and hand polished.
• Carbon wheels.
• Single sided swingarm, either carbon or billet, yet to be determined.
• LED headlamps with angel eye daytime running lamps.
• GP spec electronics with full colour dash, traction control and ABS.
• Billet yokes, hand polished.
• Underseat fuel tank and GP style bike packaging.
• Top line running gear, Ohlins gas forks and TTX rear shock.
• Under slung silencer with titanium headers.
• Brembo mono block brakes.

https://www.bennetts.co.uk/bikesocial/

Ex-Norton CEO Stuart Garner is ordered to pay back missing millions

 

THE former owner, CEO and Svengali at the helm of Norton Motorcycle until earlier this year has been told he must pay back the £14m that is missing from company’s employee retirement fund.

The news comes after Garner had the rug well and truly pulled from under him, after he originally tried to appeal the decision. Now though, the courts have refused his request, effectively pushing the one-time firework salesman is being pushed closer than ever to potential personal bankruptcy – he is already the subject of a personal bankruptcy petition from Leicester City Council.

www.visordown.com

The tangled web of security vendors!

 

The UK's Competition and Markets Authority has given a provisional nod to the proposed merger of British cybersecurity company Avast and US rival NortonLifeLock.

Action by Britain's market regulators has international ramifications; the CMA's interventions in the Arm-Nvidia deal were partly responsible for the cancellation of the $66 billion sale of the British chip designer to Nvidia. And it has held up Facebook's purchase of Giphy.

As for the antivirus vendor pact, the $8.6 billion merger was announced in August 2021 and, after a gentle probe, the Competition and Markets Authority (CMA) decided that a closer look was needed in March 2022. That closer look (referred to as a Phase 2 investigation) is pretty much done and dusted and the CMA has provisionally decided that the deal doesn't raise competition concerns in the UK.

This is due to existing players, including the duo's main rival in the UK, McAfee, and Microsoft's bundling of its own security applications into Windows.

So: Bullguard got taken over by Norton (LifeLock). AVG got taken over by Avast. Now Norton & Avast are merging! Not sure this is a good thing... Want to see which security vendor is best? Check with AV-Test, or contact Donline.

www.theregister.com

Symantec Announces Sale of Enterprise Security Assets for $10.7 Billion to Broadcom

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Symantec Corp. (NASDAQ: SYMC), the world’s leading cyber security company, today announced it has entered into a definitive agreement to sell its Enterprise Security assets, which include the Symantec name, to Broadcom Inc. (NASDAQ: AVGO), for $10.7 billion in cash. The transaction, which was approved by Symantec’s Board of Directors, is expected to close before the end of the calendar year pending regulatory approvals.

“Symantec has a long history of offering unparalleled cyber technology,” said Daniel H. Schulman, Chairman of the Symantec Board of Directors. “It is a testament to our market leadership and dedication to the mission of making the world a safer place, that Broadcom has chosen Symantec’s Enterprise Security assets to expand their reach into cyber security. By unlocking value from Enterprise Security, we are significantly advancing our ongoing transformation strategy and positioning our consumer cyber safety business, Norton LifeLock, for success.”

“This is a transformative transaction that should maximize immediate value to our shareholders while maintaining ownership in a pure play consumer cyber safety business with predictability, growth and strong consistent profitability. In addition it allows the Enterprise Security business to grow and compete on an enterprise platform with a worldwide sales and distribution reach which can service our existing customers,” said Rick Hill, Interim President and CEO. He added, “It also allows our Norton LifeLock business, a world recognized leader in consumer and small business cyber safety to operate independently and give investors a clear understanding of the growth opportunity and strong financial performance.”

www.symantec.com

Symantec and Norton Security Products Contain Critical Vulnerabilities

"Symantec and Norton branded antivirus products contain multiple vulnerabilities.

Some of these products are in widespread use throughout government and industry.

Exploitation of these vulnerabilities could allow a remote attacker to take control of an affected system."

https://www.us-cert.gov/

Visit to the Carole Nash MCN London Motorcycle Show at the ExCeL Centre, London

Jeff & I had a great time at the The Carole Nash MCN London Motorcycle Show.

A few of us try to do the Brum & London shows each year, but sadly missed the Birmingham show last year. In all honesty - Brum is the bigger & better of the two shows, but this year's London show was worth attending, for 4 hours of bikey fun!

Highlights: This special edition Kawasaki Z900RS by Surrey Customs - absolutely stunning! The Indian FTR1200. Royal Enfield 650 - two models. We were really looking forward to seeing the new Suzuki Katana. Suzuki had an original & new bike there. Nice, but not "take my money now" territory sadly - which is a shame, as that's what we were expecting it to be :0(. Would be good to have a play though...

Jeff rather liked the new Honda CB650R - which looks really good. Test ride next week - details to follow!

What did I come back with? I bought a Norton Commando 961 SE Motorcycle! Or at least a 1:18 scale model to add to my collection ;0). Also a pair or Rukka MARS 2.0 gloves on a cracking show deal from Infinity. We also did our bit to rid London of surplus beer stocks - a dirty job, but someone's gotta do it!

www.mcnmotorcycleshow.com