Manganese Bronze Holdings to be made redundant with immediate effect, out of the company's then total of 274 employees in the country, with the losses spread across its manufacturing facility, head office and dealerships. In January 2013, it was reported that Geely was in negotiations to buy the remaining shares of the company from PwC to save the business. A press statement in February 2013 announced that an agreement had been reached for Geely to purchase the remainder of the London Taxi Company's assets, manufacturing rights, unsold stock and dealerships. Geely set up a new company, The London Taxi Corporation Ltd. under its
Norton Motorcycle Company was by far the smaller partner, Poore effectively secured a take-over of BSA-Triumph, forming Norton Villiers Triumph (NVT). The Triumph factory Meriden was the least modern; but workers engaged in a "sit-in", forming a workers' co-operative. Poore was CEO of Manganese Bronze Holdings, a company apparently more concerned with asset stripping than with motorcycle production. Subsequent political manoeuvrings led to the downfall of NVT, as taxpayer-assisted wranglings over amalgamations and sell-offs all but killed the once extensive UK motorcycle industry. In late 2008, Stuart Garner, a UK businessman, bought the rights to Norton from some US concerns and relaunched Norton