{"id":55208,"date":"2020-02-18T13:56:20","date_gmt":"2020-02-18T18:56:20","guid":{"rendered":"http:\/\/motorcyclemojo.com\/?p=55208"},"modified":"2020-04-17T14:00:48","modified_gmt":"2020-04-17T18:00:48","slug":"norton-motorcycles-bankrupt","status":"publish","type":"post","link":"https:\/\/motorcyclemojo.com\/2020\/02\/norton-motorcycles-bankrupt\/","title":{"rendered":"Norton Motorcycles has indeed filed for Bankruptcy"},"content":{"rendered":"<h4 class=\"p1\"><span class=\"s1\">Yes, it\u2019s true. It has been confirmed that Norton has gone into Administration, similar to Canada\u2019s CCAA filing, or US Chapter 11 Bankruptcy. Determined on January 29, the long-time British motorcycle manufacturer has now been taken on by Lee Causer, Danny Dartnaill and Ryan Grant of BDO LLP. <\/span><\/h4>\n<p class=\"p1\"><span class=\"s1\">Founded in 1898, and starting production of motorcycles in 1902, Norton is one of the longest-running British motorcycle companies. This isn\u2019t the first time Norton has admitted it\u2019s financial trouble, in 2008 Norton was rescued by entrepreneur and property developer Stuart Garner, bringing the company to its feet again. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Norton is legendary in its own right, creating classic and timeless designs, some of which have been featured in the James Bond movie <i>Spectre<\/i>, and the Che Guevara memoir <i>The Motorcycle Diaries<\/i>. The Norton Interpol was also used by UK Police forces in the 1980s. Also participating countess years in the TT Isle of Man. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">In May 2019, Mr. Garner said that the firm was doing well and planned to open a new factory. Now, this January, Garner stating that Norton owed authorities \u00a3300,000 and could be liquidated if it was not given more time. This isn\u2019t the only financial trouble Mr. Garner is experiencing as currently two of his other companies have also gone into administration, including his 42-bedroom Priest House in Castle Donington.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Lee Causer of BDO said, &#8220;We are taking all necessary steps to ensure that customers, staff and suppliers are supported through the administration process.\u201d<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Even with this sad news of Norton we are hopeful that, yet again someone will step up and save the company from its demise. Currently the news puts 100 jobs at risk with the closure of its factory in Castle Donington. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Causer goes on to say &#8220;Our job is to determine and execute the most appropriate strategy as swiftly as possible to protect creditors&#8217; interests, bearing in mind the need to minimize distress for all parties.&#8221;<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Yes, it\u2019s true. It has been confirmed that Norton has gone into Administration, similar to Canada\u2019s CCAA filing, or US Chapter 11 Bankruptcy. Determined on January 29, the long-time British motorcycle manufacturer has now been taken on by Lee Causer, Danny Dartnaill and Ryan Grant of BDO LLP. Founded in 1898, and starting production of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":55209,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[5],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Norton Motorcycles has indeed filed for Bankruptcy - Motorcycle Mojo<\/title>\n<meta name=\"description\" content=\"Yes, it\u2019s true. 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