Norton Deposit Info, It's Demise & It’s New Owners

I Completely agree !
I visited the old factory a few years ago for a tour, it was when they launched the Domiracer, but I was not impressed at all with the set up or Sean Kinersley who was the manager at that time, I too have heard some horror stories not just about the bikes unreliability but the way the Boss Stuart Garner conducts himself & his business...bent has a nine-bob-note

 

I too got that mail. Let’s hope it’s a UHNWI with a business head on him/her who can get the thing back on track. I quote:

“we have been approached by a single investor who has offered the whole funding amount, independently. This individual is already a fan of Norton and a motorcycle enthusiast, which means the brand and it's community are a focus. The goal of this single investor is to fulfil product pipeline orders and continue to grow the Norton brand.”

So, it’s an individual, not a VC investor; a motorcyclist, whose goal is fulfill product pipeline orders; perhaps someone who has an order in the pipeline themselves . However, I think the important, and good, thing is it’s an individual thus using their own money presumably and not an investor using OPM (other people’s money) so one can imagine they don’t want to piss 1mill up the wall and will have an influential, for the better, say in how things are done. Let’s hope so.

 

Wish I had a million quid to just set fire too in the car park!... that said he has a million quid which means he's probably a lot cleverer than me... I still maintain that nothing about this really sounds legit.

I've also trolled MCN today on twitter. I'm literally sick to the back teeth of there overly blinkered reporting of Norton... They are the first to publish articles about financial issues with MV, bailouts, new CEO's etc yet never EVER publish anything other than glowing puff pieces about Norton.

 

Has 1 mil been paid in, or just a trick to calm troubled waters?

 

I was thinking about this today whilst on a solo 8 hr round trip in the car. 1 mill really isn’t all that much money and could easily be burnt through rapidly. I’m not sure what their past cash burn rate is I’d have to go back through their accounts, not that they’re worth much as they’re so out of date - March 2018

 

It was probably a Nigerian prince keen to invest

 

I have had an Atlas on order since it was announced before the last NEC show. £500 deposit and a complete lack of news and updates unless I contacted Norton myself.

I was hoping to get some meaningful news and had hoped to get to sit on one as it was very quiet at the NEC on Monday. But even as a patient customer, I was given the health and Safety excuse, pretty ridiculous. I was advised that manufacture of the Atlas would be starting at the end of the year for deliveries to commence March. I have very little confidence left in any communications as they seem to be in a terminal state of delay...

I was also told that I'd be contacted for my final spec, options, etc, and payment in full. Hmmm, should I stick or twist? My brain says cancel, but my heart says just wait.

 

I'd wait. You've entered into a contract with them. If they don't hold to their side of it then take em to the cleaners.

 

Risk over benifit...

You'll be rightly furious if you lose £500, but super happy if you end up with the bike.

I doubt you contract will be worth anything if they go bang.

 

Despite my many frivolous posts regarding Norton I do hope they, as a factory, do pull through. Regardless of who’s at the helm.
But the more I read it makes me feel sad that on the outside at least, things are not going well.

 

They do make cool looking bikes, if it were my money I'd be concerned, but as its yours i say STICK

Lets get one together*















*you just pay.....how very Labour of me

 

John W, did you receive their latest e-mail asking you to fill out the form regarding your final specification, and if so what are your plans---"full system" chrome paint? ££££££££££!

 

Yes, I agree and this should be publicised to other patient buyers so that we make a stand against risking all that money when they appear so fragile financially.

 

I think if they don't provide the bike it'll be because they've gone bust.

I also wouldn't be surprised if the price they are going to be looking for, when the final order is agreed for production, goes up from when I put my deposit down in 2018!

 

From FB.

 

The Company has also extended its year end from March to August so that buys them another 5 months before they have to publish accounts again.

 

Stuart Garner the owner of Norton also had a business development loan of £6million from Vince Cable at that time, that's when he decided to by Donnington Hall instead of using the cash to further develop/improve the company & the motorcycles which the cash was intended for .

 

I'm sticking with my £2K deposit on the Superlight (standard not SS), all companies hit troubled times at some point, most don't do it in the public eye for all to see. Norton will pull through one way or another and when I'm stroking my carbon fairing it will have been worth the wait I'm sure. The Superlight SS in full carbon glory and the V4 limited edition were the stars of the show for me over the weekend. We have a funny attitude the British sometimes, we love the underdog and want to see him win but at the same time love a good disaster movie.