Planet X aquires Titus brand in auction

Planet X, a U.K. Internet-based bicycle manufacturer and retailer, aquired Titus and its assets last week in an auction by its former major lender, Factors Southwest.

The brand’s future was uncertain after it could no longer keep up with loan payments. Planet X won the bidding after two rounds of auctioning.

Planet X sells bikes under its own brand and its mountain bike brand On One.

No word yet on if the Titus name will live on.