A British motorcycle company has gone bust, in part thanks to Brexit, one year after Brexit Secretary Steve Barclay visited the firm to promote the economic opportunities of Brexit.
Classic motorcycle company Norton fell into administration last week, 122 years after its foundation.
Speaking about the collapse of the company, Norton chief executive Stuart Garner said it had “become increasingly difficult to manufacture in the UK, with a growing tax burden and ongoing uncertainties over Brexit affecting many things like, tariffs, exports and availability of funding.”
This is particularly ironic, given that Brexit Secretary Barclay had visited the firm in December 2018, saying that Brexit would expand opportunities for companies like Norton “across the world”.
“This is why the [Brexit] deal delivers on the referendum but it also protects jobs [and] supports businesses,” he said…
Speaking in September, Garner had also himself openly backed Brexit, saying: “We’ll thrive outside the EU. There may be short-term speed bumps but we will come out of it stronger.”
The speed bumps were clearly bigger than he thought, and the company looks set to close its doors if it doesn’t manage to secure a recovery deal.
Congrats to all involved.
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