When Triumph Engineering went into receivership in 1983, John Bloor bought the name and manufacturing rights from the Official Receiver. The new company's manufacturing plant and its designs were not able to compete against the Japanese, so Bloor decided against relaunching Triumph immediately. Initially, production of the old Bonneville was continued under licence by Les Harris of Racing Spares, in Newton Abbot, Devon, to bridge the gap between the end of the old company and the start of the new company. For five years from 1983, about 14 were built a week in peak production. In the USA, due to problems with liability insurance, the Harris Bonnevilles were never imported.
Bloor set to work assembling the new Triumph, hiring several of the group's former designers to begin work on new models. The team visited Japan on a tour of its competitors' facilities and became determined to adopt Japanese manufacturing techniques and especially new-generation computer-controlled machinery. In 1985, Triumph purchased a first set of equipment to begin working, in secret, on its new prototype models. By 1987, the company had completed its first engine. In 1988, Bloor funded the building of a new factory at a 10-acre (40,000 m2) site in Hinckley, Leicestershire.Bloor put between £70million and £100million into the company between purchasing the brand and breaking even in 2000.