Manganese Bronze Holdings was reported that Geely would increase its shareholding in Manganese to 51% through participation in a placing of new shares. In August 2010 it was announced that Geely had decided not to proceed with the share placement and its shareholding in Manganeze would remain at just under 20%. In November 2010, LTI changed their trading name to "The London Taxi Company" to reflect the company's core business. Manganese entered administration on 22 October 2012 after failing to secure additional funding; PricewaterhouseCoopers (PwC) were appointed as the administrator. On 31 October PwC announced that 156 Manganese staff in the UK were
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