Norton in financial trouble, India roll-out may be hit

wheelguy · 31st January 2020, 09:14

According to a report by The Economic Times, UK based Norton Motorcycle is under severe financial crunch, the company has gone into administration after failing to pay outstanding dues to the UK authorities. The company is struggling to pay the tax bills, faces winding up order under UK's insolvency law.

Kinetic Group and Norton Motorcycle together entered into an equally owned JV in 2017 to manufacture and market bikes for India and other Asian markets. When contacted by ET about the JV's future, Ajinkya Firodia said that he would be traveling to UK shortly to understand the situation and seek clarity. When queried if the 650cc bike would get further delayed, he said it was difficult to predict now.

Source

aargee · 31st January 2020, 09:33

If they're in financial trouble & they can launch products that are competitive both with models & price, then India will be the only country to bail them out!!

payeng · 31st January 2020, 14:30

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31st January 2020, 09:14	#1
wheelguy BANNED Join Date: Jul 2019 Location: Earth Posts: 1,745 Thanked: 8,878 Times	Norton in financial trouble, India roll-out may be hit According to a report by The Economic Times, UK based Norton Motorcycle is under severe financial crunch, the company has gone into administration after failing to pay outstanding dues to the UK authorities. The company is struggling to pay the tax bills, faces winding up order under UK's insolvency law. Kinetic Group and Norton Motorcycle together entered into an equally owned JV in 2017 to manufacture and market bikes for India and other Asian markets. When contacted by ET about the JV's future, Ajinkya Firodia said that he would be traveling to UK shortly to understand the situation and seek clarity. When queried if the 650cc bike would get further delayed, he said it was difficult to predict now. Source
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31st January 2020, 09:33	#2
aargee Senior - BHPian Join Date: Jan 2010 Location: TSTN Posts: 6,236 Thanked: 9,641 Times	re: Norton in financial trouble, India roll-out may be hit If they're in financial trouble & they can launch products that are competitive both with models & price, then India will be the only country to bail them out!!
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31st January 2020, 14:30	#3
payeng Senior - BHPian Join Date: Oct 2006 Location: Bengaluru Posts: 1,169 Thanked: 2,123 Times	re: Norton in financial trouble, India roll-out may be hit Mod Note : Please do NOT post messages that add little or no informational value to the thread. We need your co-operation to maintain the quality of this forum. We advise you to read the Forum Rules before proceeding any further. Request to post ONLY when you have something substantial to add to a discussion. Last edited by GTO : 31st January 2020 at 16:43.
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