As many readers may have heard, things are not looking good for Titus Bikes.
The company has been taken over by its primary lender, Factors Southwest, who is now shopping for a new buyer, Bicycle Retailer and Industry News is reporting. Factors Southwest says it is not expecting to break up the company or sell of its assets.
Retailers were notified last week that all remaining stock would be liquidated, but that has not yet happened and most are still waiting for news.
Factors Southwest says it is looking for partner to help in the auction process, and more information will be available soon.
Of course, we’ll let you know as soon as we do.