Norton Motorcycles faces financial trouble

    Investment in the development of the Norton V4 SS and RR models has proved to be quite expensive for the company; attempts to secure backing appear to have failed.

    Published On Jan 31, 2020 08:00:00 AM

    6,343 Views

    Norton Motorcycles faces financial trouble

    Norton Motorcycles is said to have been placed in administration. A company goes into administration when it becomes insolvent, and is put under the management of Licensed Insolvency Practitioners. The British motorcycle brand appears to have failed to secure the backing it needs to continue trading. It’s being said that investment in the development of the Norton V4 SS and RR models has proved to be quite expensive for the company.

    Insufficient cash flow is said to be the reason why the company is having trouble fulfilling their order book. While the limited-edition V4 SS sold out rapidly despite the £44,000 (Rs 40.88 lakh) asking price, the funding required to source parts and build these high-end motorcycles at the company’s Donington Hall factory wasn’t there.

    Norton had also invested money into new mid-capacity, parallel-twin models called the Atlas Nomad and Ranger. These models were going to be high volume products for the company but Norton hasn’t managed to finish the expanded space in the factory that was needed for their production.

    Stay tuned to Autocar India for more updates. 

    SOURCE 

    Copyright (c) Autocar India. All rights reserved.

    Comments
    ×
    img

    No comments yet. Be the first to comment.

    Ask Autocar Anything about Car and Bike Buying and Maintenance Advices
    Need an expert opinion on your car and bike related queries?
    Ask Now
    Search By Bike Price
    Poll of the month

    The Mahindra Scorpio N prices are very close to those of the XUV700. Which Mahindra SUV would you buy?

    Scorpio N

     

    37.37%

    XUV700

     

    62.63%

    Total Votes : 4124
    Sign up for our newsletter

    Get all the latest updates from the automobile universe