Foreclosure Hits Mountain Bike Brand Titus

British company Planet X acquires Titus Bikes at auction after creditor foreclosure, just as the mountain bike industry shows strong signs of recovery.
By Jeff Barber
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And we thought foreclosures were just for homeowners! Last month creditor Factors Southwest foreclosed on Titus Bikes in Arizona for failure to pay the bills. British bike company Planet X Ltd. scooped up the brand assets late last month at public auction (though we weren’t able to find the price mentioned anywhere). Too bad Titus couldn’t hold on just a little longer – all signs point to a big recovery in the bike industry with players like Fox posting huge sales gains recently…

 
Image of a 2010 Titus FTM Carbon mountain bike with promotional text announcing a giveaway for the bike and a free tattoo, set against a blue patterned background.
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