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19/02/2020

Nottingham-based entrepreneur Steve Murray has confirmed that he is one of the parties talking to administrator BDO about taking the Norton marque into the future. Murray, whose background is in engineering and marketing joined Norton Motorcycles in February 2010 as operations and marketing director.

“It quickly became apparent that we were from different solar systems,” Murray told BDN. He resigned as a director after only seven months.

However, because he had invested heavily in Norton Motorcycles, Murray remained a shareholder in the hope of eventually seeing a return. Then the company went into administration and he is just one of those with a charge over the company looking for redress.

“I stand to lose £1,170,000,” he explained.

Aiming to secure his investment, Murray is part of a consortium making proposals to BDO and says he has a strategy in place.

“It is a plan for a fine British brand that is based on its own merits,” he said, adding that the company is a complicated acquisition primarily due to the widely dispersed Intellectual Property rights vested in brands, model names, technologies, tooling, conformities, homologations and type approvals."

With more than 500 creditors, the majority of which are members of the public, a further complication is the bad-will associated with Norton.

Several parties are believed to be putting in bids for ownership of the Norton trademark to BDO before the deadline this Friday, 21 February.