Triumph Motorcycles did not permanently go out of business, although the original British manufacturing enterprise faced catastrophic financial collapse and entered receivership in August 1983, halting production at its historic Meriden cooperative factory. However, the legendary motorcycle brand experienced a dramatic industrial resurrection when British businessman John Bloor acquired the intellectual property and manufacturing rights. Bloor established a brand-new, state-of-the-art production facility in Hinckley, Leicestershire, successfully relaunching new motorcycle models in the early 1990s and restoring the company as a thriving, globally competitive enterprise today.