Company Norton Motorcycles virtually bankrupt

Company Norton Motorcycles virtually bankrupt

Company Norton Motorcycles virtually bankrupt

Bad news for the iconic British brand of motorcycles, which once rattled to the whole world. Company Norton Motorcycles has started the procedure of bankruptcy.

News are the consequences of the great financial problems of Norton Motorcycles for some time, despite attempts by CEO Stuart garner to show that all is well.

According to reports, Norton Motorcycles was due to the British government £ 600,000, but could reduce the amount by half after the hearing. However, garner protested and said that another 135 000 should be written off, because his company had tax benefits, as did the development work.

In any case, Norton is closed until the British government decides its fate, considering primarily the interests of creditors and the tax authorities.

Some news write that Norton owed a fee to John McGuinness, who spoke at Norton V4 on last year’s Tourist Trophy.

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