Norton no more / update superbike part 2

[popsky]

Over 28 million pounds owed

[Blackal]

Can this be true?

I reckon world events have pushed the viability well into the ditch.

https://youtu.be/4W9N-sLABDE

A friend of mine who is connected to Steve Nichols’ sports car venture - reckons there will always be market for high-end cars/bikes/boats.......... Mmmmmmmmm

I’ve not got a lot of confidence in the public buying ordinary bikes in the next few years - never mind niche items.

[Joe Bar]

Certainly seems to be. TVS put out a press release yesterday and have issued TUPE notics to the Norton employees apparently. As an $8 billion company that's not Chinese this can only be good news for the brand surely.

[andy griff]

Note.. it appears that the pension fund members and hopeful owners with deposits paid have no protection under this deal.

[andy griff]

Also, as Garner sold the 961 engine rights just before the company crashed it appears that TVS do not have ownership of that engine or manufacturing rights anymore

[Humbug]

MCN are reporting today that people who have paid deposits will be getting their bikes! Great news if true

[andy griff]

And hopefully a better quality product with TVS production processes. Seems like they're making all the right noises about UK production, high quality low volume bikes . This might just turn out well and then Hicky will win 2021 lightweight on the Superlight, and then the V4 will be properly developed as a 1000 super bike and he'll win on that by 2022.. all as if the Gardner years never happened

Except for the poor pension fund owners

[boxerscott]

MCN are reporting today that people who have paid deposits will be getting their bikes! Great news if true

Fake news.

According to MCN (I read it in the Co-op) BDO stated "notwithstanding that deposits have been paid to the company prior to the administration by specific customers,the joint administrators are advised that title to these motorcycles has not passed and that ownership of the part built motorcycles therefore remains with the company"

They will not be getting a bike or any cash back.

Norton is doomed as an independent motorcycle brand now or any time in the future.

Chris

[andy griff]

"Norton Motorcycles has been sold to Indian motorcycle giant TVS Motor Company in a £16million cash deal that will see manufacturing remain in the UK, while those who paid deposits will finally receive their bikes.

Under the agreement, a subsidiary TVS Motor Company has acquired Norton, as well as a licence to occupy the existing manufacturing premises for the next six months, after which they will build a new factory in the UK. Speaking exclusively to MCN, Sudarshan Venu, Joint Managing Director of TVS told us their first aim is to rebuild the brand.

"The most important thing for us is to build on Norton’s legacy and restore it to its original glory," said Venu. "We want to delight customers around the world and take Norton into the future."

Not sure what you read in the Co-op but this is this weeks MCN

[boxerscott]

"Norton Motorcycles has been sold to Indian motorcycle giant TVS Motor Company in a £16million cash deal that will see manufacturing remain in the UK, while those who paid deposits will finally receive their bikes.

Under the agreement, a subsidiary TVS Motor Company has acquired Norton, as well as a licence to occupy the existing manufacturing premises for the next six months, after which they will build a new factory in the UK. Speaking exclusively to MCN, Sudarshan Venu, Joint Managing Director of TVS told us their first aim is to rebuild the brand.

"The most important thing for us is to build on Norton’s legacy and restore it to its original glory," said Venu. "We want to delight customers around the world and take Norton into the future."

Not sure what you read in the Co-op but this is this weeks MCN

I was probably reading last weeks.... should have checked the date!

I do hope the trusting people who have been disappointed get their money back. As for waiting for a bike to be built i would want my cash back until confidence is restored.

Chris.

[andy griff]

Happy to bring you up to date Boxerscott. In other news a certain Mr Trump has advised us all to drink disinfectant and everything will be better

[popsky]

In other news a certain Mr Trump has advised us all to drink disinfectant and everything will be better

Thread hijack

I thought old Trumpy was stupid, but seems he’s proved me wrong.
Unfortunately he isn’t going to follow his own advice re disinfectant shame on you Mr President it’s another do as I say from a politician