Planet X Bikes Acquires Titus in Auction

ROTHERHAM, U.K. (BRAIN)?Planet X, a U.K. based Internet bicycle retailer, purchased all of Titus assets from Factors Southwest late Tuesday, November 23. Factors Southwest, Titus major lender, foreclosed on the Arizona based bicycle company on November 9 due to failure to keep up its loan payments. Factors Southwest initiated a public auction to get Titus into new owners hands as quickly as possible. Factors Southwest entertained bids from interested parties in two separate rounds of bidding. The second round concluded Tuesday, with Planet X placing the winning bid. Planet X sells pavement bikes under its Planet X brand and