Cycle World Roundup
CYCLE WORLD ROUNDUP
The Triumph death-watch
To borrow a phrase—at least the latter part of it— from Charles Dickens, it was the worst of times.
The year 1983 will not be remembered for its kindness to motorcycle manufacturers. All year, there were rumors
after rumors about the imminent demise of one company or another: American, European, even a couple of Japan’s Big Four. Several builders went money-hunting. Ducati dropped out of the market to concentrate on making engines for Cagiva. Hesketh died, then was resurrected on a much smaller scale. Yamaha reduced its work force and trimmed production.
And now, we come to the death-watch for Triumph.
Yeah, you say, so what’s new? The company’s been in its sick bed since 1971 or so. The last 10 years have seen crisis after crisis after crisis. There were all of those perennial articles:
“Triumph—Is This The End?’’ Yet, somehow, the marque always pulled through. So what’s the scare?
Item: The company’s debts now total about $4 million.
Item: Since the first of the year, company officials have begged, unsuccessfully, for grants and investments.
Item: No motorcycles have been produced since February.
Item: Since early this year, only 35 workers have been reporting to the Meriden factory—compared to a , workforce in 1979 of more \ than 700.
Item: Those 35 workers
only
spare parts.
Item: The remaining 80 members of the workers’ cooperative that owns Triumph have voted to ( declare bankruptcy and/^ call in the liquidators,
Things do not look good, to put it mildly. This could be it for Triumph, folks.
Then, again . . .
While Triumph, at this point, is almost sure to be dissolved, officials hope to liquidate the company in two parts: one package would include the Meriden site, which proved to be too large and expensive for the cashpoor co-op to run; the other package would include the machinery, stock, patents, and the Triumph name.
Thus, the officials hope, an investor who purchases the second package could jf) turn out a small jí£ ( trickle of Triumphs ^ on the order of a few ^ bikes a week and ƒ continue production of spares. But ¿ chances are slim that the new{nendert generation
Phoenix, the 900cc watercooled vertical Twin the
company was readying, will ever see even limited production, says the Times of London.
If buyers can’t be found for the two packages, officials say, Triumph's assets will be parted out and sold at auction.
To sum up. This emergency is Triumph's direst yet. The present company the workers’ cooperative—is broke and has agreed to dissolve itself. It’s near-certain that the assets will be sold, to satisfy creditors. Still, there’s a faint glimmer of a hope that the Triumph name, the Triumph motorcycle, will not disappear altogether.
As they say on television, more as the story develops. ©
