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Norton dissolved

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Sam.moz86 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Sam.moz86 Quote  Post ReplyReply Direct Link To This Post Topic: Norton dissolved
    Posted: 08 Mar 2019 at 21:19
Just seen in the news that Norton motorcycles have been dissolved. I hope this can be sorted out, it would be a huge shame to lose such an iconic, British brand, especially with the beautiful new v4 about to hit the roads. 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote redratbike Quote  Post ReplyReply Direct Link To This Post Posted: 08 Mar 2019 at 23:25
Not good news at all


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Post Options Post Options   Thanks (0) Thanks(0)   Quote Paddedcell100 Quote  Post ReplyReply Direct Link To This Post Posted: 09 Mar 2019 at 06:59
I did read on Facebook that it was just a movement by Companies House because Norton were late filing their accounts,  it's something companies house do quite regularly (threaten to strike companies from the register)as a way of threatening companies that are late filing their accounts and Stuart Garner actually backed this up...so it's not panic stations just yet, could be something as silly as a useless accounting company just not pulling their finger out , but time will tell I suppose.  


Better to have something you don't need than need something you don't have....
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Post Options Post Options   Thanks (0) Thanks(0)   Quote legend88 Quote  Post ReplyReply Direct Link To This Post Posted: 09 Mar 2019 at 08:11
Dissolution halted as of today:

However, late filing -  and they are more than two months late - usually means something serious is behind it, either they want to hide things as long as possible or have seriously inadequate management neither of which are a good sign.


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Post Options Post Options   Thanks (0) Thanks(0)   Quote redratbike Quote  Post ReplyReply Direct Link To This Post Posted: 09 Mar 2019 at 08:54
Just had a look on companies house and there are two companies running - Norton Motorcycles Ltd & Norton Motorcycles UK Ltd.  The first one is fine so it may not be as bad as stated.  The UK Ltd one hasn’t filed any accounts since March 2017 which is probably the reason for the notice.


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Post Options Post Options   Thanks (0) Thanks(0)   Quote redratbike Quote  Post ReplyReply Direct Link To This Post Posted: 09 Mar 2019 at 08:54
Stuart garners a twat anyway


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Post Options Post Options   Thanks (0) Thanks(0)   Quote Sam.moz86 Quote  Post ReplyReply Direct Link To This Post Posted: 09 Mar 2019 at 09:48
That's a relief. I can imagine there were a few twitchy arses for people who have placed a 20k order on some bikes. 

RedRat, that last comment made me chuckle.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Tifa Quote  Post ReplyReply Direct Link To This Post Posted: 09 Mar 2019 at 17:51
Originally posted by redratbike redratbike wrote:

Stuart garners a twat anyway

Hahahahaaa.......now tell us how you really feel about him? LOL

I think there's a serious problem there.....smoke without fire etc?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote legend88 Quote  Post ReplyReply Direct Link To This Post Posted: 09 Mar 2019 at 20:18
Originally posted by redratbike redratbike wrote:

Just had a look on companies house and there are two companies running - Norton Motorcycles Ltd & Norton Motorcycles UK Ltd.  The first one is fine so it may not be as bad as stated.  The UK Ltd one hasn’t filed any accounts since March 2017 which is probably the reason for the notice.


Looking further at Companies House, Norton Motorcycles Ltd is a dormant company that Stuart Garner has no part in. It was incorporated in 2008, has never traded and has been dormant ever since.

Norton Motorcycles UK Ltd is the active manufacturing company. It did in fact file its accounts for the year to 31 March 2017 on 20 December 2017. It's accounts for the year to 31 March 2018 were due on 31 December 2018 and these have not yet been filed.

A company is allowed 9 months after their year end to file accounts and this is a key date that anyone in authority will be fully aware of so there must be something up.

Also, Stuart Garner is a director of a number of other companies of which all of the following have overdue accounts:

NORTON MOTOR CARS LIMITED

LANTERN SEVEN LIMITED

SPONDON DEVELOPMENTS LIMITED

NORTON RACING LIMITED

DONINGTON HALL ESTATES LIMITED

PRIEST HOUSE HOTEL LIMITED


Make of that what you will!


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Post Options Post Options   Thanks (0) Thanks(0)   Quote Sam.moz86 Quote  Post ReplyReply Direct Link To This Post Posted: 09 Mar 2019 at 20:29
Sounds like a cowboy playing a game and slowly getting caught out. 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote kommando Quote  Post ReplyReply Direct Link To This Post Posted: 09 Mar 2019 at 22:07
The dissolution notices have been pulled, Stuart Garner says it was a admin error. Just shows its a shambles and is being run on a shoe string. I suspect here is a link with piaggio group and they are helping Norton, will post the info on my suspicions tomorrow.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote legend88 Quote  Post ReplyReply Direct Link To This Post Posted: 09 Mar 2019 at 22:18
Originally posted by kommando kommando wrote:

The dissolution notices have been pulled, Stuart Garner says it was a admin error.

Yes, but all the accounts filings are still overdue.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Tifa Quote  Post ReplyReply Direct Link To This Post Posted: 09 Mar 2019 at 22:37
If YOU'D paid a £20k deposit, recon you'd be on tenderhooks waiting for the accounts to be published.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Sam.moz86 Quote  Post ReplyReply Direct Link To This Post Posted: 10 Mar 2019 at 09:46
Originally posted by Tifa Tifa wrote:

If YOU'D paid a £20k deposit, recon you'd be on tenderhooks waiting for the accounts to be published.

I bet they've had a few cancelled orders. 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote kommando Quote  Post ReplyReply Direct Link To This Post Posted: 10 Mar 2019 at 11:09
This is the info around that I believe shows there is a larger link between Norton and the Aprilia owners The Piaggio group.

Norton have been entering the TT races for the past 7 years on bikes number SG1 to SG7, SG1 to 6 using Aprilia V4 engines in a Spondon frame (Norton own Spondon), For last year they used SG7 using Norton's own V4 engine at 1000cc in the Spondon frame. According to Norton this V4 in SG7 is their own design !!!

However when you look at who did the development of the engine and also the bikes Aprilia and Norton are working on its clear there is more to this than meets the eye. 

So for 2019 bikes we have

2019 Norton V4 1200cc plus Twin superlight 650cc

2019 Aprilia V4 1100cc plus Concept Twin 660cc 

Both the lower capacity engines are the front 2 cylinders from the respective V4

The Norton engine development is undertaken by Riccardo Motorcycles who also list Piaggio Group as their customer.

The difference between the 2 V4 engines is on the Norton the balancer shaft has been moved to under the engine to allow a wider angle between the 2 banks of cylinders. The engine is taller but fits in the same space even being 100cc larger.

Then there is the strange licensing of the 650 twin to China by Norton. This is to a company called Zongshen.

Guess who also has a joint venture with Zongshen.


ZONGSHEN PIAGGIO FOSHAN MOTORCYCLE CO.,LTD.
  • Business Type:
    Corporation/Limited Liability Company

  • Main Products:
    line operation motorcycles, scooters, engine, spare parts and after-sell service; non self-made motorcycles, scooters, engine and import and export for spare parts. Wholesale, retail business and relative after-sell service

  • Major Markets:
    South America,Southeast Asia,Africa,Oceania,Mid East,Eastern Asia,Central America,


http://www.cccme.org.cn/shop/cccme11393/index.aspx

There are too many coincidences for this not to be covered by some joint development and co operation agreement. It will be covered by a confidentiality agreement so may never be divulged but without an agreement you would have expected Piaggio to have taken Norton to the cleaners for stealing the V4 engine architecture.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Spoonz Quote  Post ReplyReply Direct Link To This Post Posted: 10 Mar 2019 at 16:18
Ricardo develop loads of stuff for anything that needs an engine for loads of marques so I wouldn’t read too much into piaggio and norton both using them. Having said that I doubt norton could develop a v4 on their own either cost or resource wise so basing it on something else is not a surprise. 
The other common factor being both norton and piaggio cant organise a piss up in a brewery so make good bed fellows. 

I know someone who works at Ricardo so if I speak to him in the near future I will ask about the engines. 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote kommando Quote  Post ReplyReply Direct Link To This Post Posted: 10 Mar 2019 at 17:21
Thanks, that would be interesting to know. That both companies have lack of organisation in common makes them good bed fellows ;) .

Mind you the Norton accountant is very creative if not also over worked, every £ they spend on racing is booked as a £ in intangible assets on the basis it helps sales, in the 2017 accounts that was up to £3.8M out of £7.8M of total assets. That's a lot of future profits already pulled back from an unknown future.
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