Planet X takes over Titus
UK based bike manufacturer Planet X bought the recently foreclosed Titus Cycles and all its assets from Factors Southwest. Planet X was one of the bidders at the two rounds of public auction Factors Southwest facilitated. The concluding bid was on November 23, with Planet X being awarded of the assets.
Due to numerous factors, Titus Cycles failed to keep up loan payments due to Factors Southwest. Planet X takes over whatever inventory left and other details like patents and tech from Titus Cycles.
Currently, Planet X offers street bikes and sells mountain bikes under the On One brand. Titus Cycles’ founder, Chris Cocalis, left in 2007 to start a new company, Pivot Cycles. The latest offering from Titus was the Rockstar 29er.