Norton factory shuts; owner misses hearingFebruary 20, 2020
Norton Motorcycles stopped production. The company technically works until the official bankruptcy process begins. The factory is closed, concrete blocks are installed in front of the Castle Donington head office.
Everything that happens is the result of the company’s inability to pay debts. Over the past few years, Norton Motorcycles’ financial position has deteriorated dramatically, and the main reason for the setbacks seems to be CEO Stuart Garner. He will also miss the hearing, which addressed the issue of missing pension funds.
Garner was a trustee of pension funds. When the workers tried to withdraw their money, they were not there. According to the official version, Stuart collaborated with people who helped him cheat with the money of the pension fund. One of his accomplices, Simon Colfer, was previously convicted of fraud. Stuart Garner avoids reporters and gives no comments. He previously mentioned that he did not know anything about the pension money fraud scheme and considers himself a victim of this situation.
The history of Norton Motorcycles has not yet ended, but we will probably find out a lot more.
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