Bike manufacturer Norton Motorcycles has gone into administration.
According to Sky News, the Leicestershire-based firm has appointed administrators BDO after reports it was having trouble paying its tax bill which is believed to stand at around £300,000.
The company, which was founded in 1898, has been a part of the TT for several years with the likes of John McGuinness and David Johnson riding for the outfit.
The organisation was bought by entrepreneur Stuart Garner in 2008.
Firefighters called to a house fire in Onchan
The Isle of Man Fire and Rescue service were called to reports of a fire in Onchan yesterday.
Today's budget at a glance
All the announcements made by Treasury Minister Chris Thomas during this morning's budget.
Employers' National Insurance rates frozen
Treasury Minister Chris Thomas says employers' national insurance rates will be frozen cover the coming year.
Pensions to see 4.8% rise under budget
Pensioners will see more money in their pockets this year, after a rise under the triple-lock system.
Income tax threshold rise 'will boost disposable income'
Treasury Minister Chris Thomas says most people will be £500 a year better off under new tax thresholds.
Treasury Minister announces extra £45 million for health
Health services will get an extra £45 million in spending this year.
ManxSPCA gives pancake tips for pups
An Island animal charity is offering dog-friendly advice this pancake day.
Over £21,000 raised for mum-to-be facing urgent radiotherapy
A fundraising page has raised more than £21,000 for a mum-to-be who underwent emergency brain surgery.
