Norton pension schemes under investigation

The fallout from Leicestershire-based Norton Motorcycles slipping into administration is already being felt after it emerged that pension schemes related to the company are under investigation.

Some 30 people have complained to the Pensions Ombudsman regarding three pension schemes attached to the manufacturer, which called in administrators on Wednesday.

The independent adjudicator will hold a hearing on 13 February in London as part of an investigation into the complaints against Norton boss Stuart Garner, who has been named as the trustee of several pension schemes with names such as Dominator 2012, Donington MC Pension and Commando 2012.

Norton slipped into administration after reportedly failing to pay a £300,000 tax bill.

The news puts 100 jobs at risk at the firm’s Castle Donington factory. It has also emerged that the Priest House Hotel, a Castle Donington business related to Norton, has also entered administration.

Lee Causer of administrator BDO said: “We are taking all necessary steps to ensure that customers, staff and suppliers are supported through the administration process.

“Our job is to 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.”

The news comes just weeks after Norton owner Stuart Garner took to social media to appeal for investment in the iconic British brand.

Days after a crowdfunding campaign was launched, Norton was approached by a mystery investor who offered to stump up the entire funding amount it was seeking to raise.

The Castle Donington-based firm said the independent investor was “already a fan of Norton and a motorcycle enthusiast” whose goal was “to fulfil product pipeline orders and continue to grow the Norton brand.”

According to reports, Garner was looking to raise £1m – a sum which would be put towards the manufacture of its V4 superbike and 650 models.