Is Norton insolvent?

The accounting firm (BDO) UK has taken over the management of Norton Motorcycles. The background is open tax claims.

The BDO’s task is to support customers, employees and suppliers so that their outstanding claims can be served in the best possible way. One wants to ensure that all parties have to book as little damage as possible. Now they are looking for the right way.

 

Looking for an investor

According to the Telegraph, Norton had sales of £ 6.7m in 2019. The pre-tax profit is said to have been only £ 33,701. Norton currently has around 100 employees.

It is currently still open whether the company can be kept alive and the jobs can continue to exist.

It is also unclear how to deal with down payments made for ordered motorcycles that are still pending delivery.

 

They are currently looking for an investor who could take over Norton to keep the company alive.

 

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