Triumph Motorcycles has responded to speculation that it would make a popular new owner for Norton Motorcycles.
Both motorbike brands are based in Leicestershire – Triumph in Hinckley and Norton in Castle Donington.
But while Triumph has gone from strength-to-strength on the back of solid management, high investment and world-leading designs, Norton has faced mounting problems in recent months which resulted in administrators being brought in last week.
Metro Bank called in accounting firm BDO to take control of the business, saying it was in the best interests of all concerned after failing to find a solution to Norton’s problems with the owners.
A Metro Bank spokeswoman told BusinessLive: “Having worked closely with the company for many months, we have acted in the best interest of the company’s stakeholders and employees, and on the basis of independent advice.
“We have therefore made the difficult decision to request the appointment of administrators.”
Since news of the administration broke, bike fans have been speculating on social media and motorbike forums that it would be good to see Triumph owner John Bloor step in.
One Twitter user said he had e-mailed Triumph chief executive Nick Bloor – John Bloor’s son – “begging him to buy Norton saving it and keeping it British”.
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Another suggested “I suspect John Bloor may purchase the brand name and re-use alongside #Triumph”.
However a spokeswoman for Triumph told Business-Live: “Whilst it’s incredibly sad to see the demise of such a famous British motorcycle brand, and the impact that this will have on the employees, their dealers, and their customers across the world, the acquisition of Norton Motorcycles is not something that we would be interested in pursuing.
“We have many priorities and exciting projects here at Triumph that we are actively pursuing, such as the announcement of our non-equity partnership with Bajaj Auto, and the continued evolution of our world class motorcycle range to continue the growth of Triumph, and to continue to delight our fans around the world.”
Only last month Triumph kickstarted a new venture with Bajaj Group – one of the biggest companies in India – which will eventually see a new range for the Asian market starting at around £2,000 or less.
The pair have started working on a new range of mid-capacity bikes which will give the 海角视频 manufacturer a new entry point to high-volume emerging markets across Asia.
The new range will be badged Triumph but built by Bajaj and will see a new engine and bike platform built in the mid-capacity, 200cc-750cc range.
Triumph, which dates back to 1902, now has six factories around the world, including the global headquarters in Hinckley.
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It is the 海角视频’s biggest bike manufacturer, selling around 60,000 bikes a year.
It employs around 2,000 people and saw turnover grow to £529.5 million in the year to last June.