Stuart said they had paid £300,000 of a £600,000 bill to HMRC and had asked for 63 days for the outstanding amount to be settled.
The hearing was adjourned until 12 February 2020.
However, BDO was called in yesterday (29 January 2020).
BDO spokesman Lee Causer they will “determine and execute the most appropriate strategy as swiftly as possible to protect creditors’ interests, bearing in mind the need to minimise distress for all parties”.
“We are currently assessing the position of each of the companies in order to conclude upon the options available to them and the most appropriate way forward.”
We contacted Lee for an update on administration proceedings, whether production had ceased and the order of payment of creditors. We will update when he replies.
As usual, the tax bill will be top of the list.
Motorbike Writer has also tried to contact Norton Global Sales & Marketing boss Kay Johnson for comment, but his emails now bounce back.
When we contacted her after the court appearance she assured us they were operating business as usual and invited me to visit the historic Castle Donington factory next time I’m in the UK.
Sadly that visit may never happen now.
The factory employs about 100 people and recently opened a new production line.
Meanwhile, the official website is still operating.
In the UK, when a company goes into administration, it is not necessarily the end.
It protects the company from creditors and winding-up proceedings while a solution can be reached.
The administrator is given eight weeks to send out formal administrative proposals to all of the insolvent company’s creditors and repay “without preference”.
“It appears that one of the most iconic brands in motorcycling has been unable to survive the current pressures on the industry,” he says.
“Australian and New Zealand customers that have placed deposits for new models with their local dealer will be able to receive a full refund for orders.
“However we are not sure what is in line for those that placed orders prior to our distribution with the factory directly. We will obviously do our best to put those customers in touch with the correct people in the UK.
“In regards to existing Norton owners, we still have good stock of servicing parts, and will still be operating to ensure our customers are looked after.
“Ultimately we hope a larger brand with more experience will come in and continue the brand however this is purely speculation and we have had no official correspondence.”