Initiates Liquidation of All Company Assets
Rumored for weeks in the Mtbr Titus Forum, this time the rumors turn out to be true.
According to the official email from Titus Cycles:
“Our largest lender is foreclosing on an outstanding loan. Commencing immediately, they will initiate an orderly liquidation of company assets. Please direct any inquiries to [email protected]”
Titus has always been one of the more popular brands, however they have seen quite a bit of change in recent years. Titus Cycles founder Chris Cocalis left the company and started a new company (Pivot Cycles) not too long ago. Longstanding employees were recently “let go” a few weeks back. There was much writing in the Titus forum walls.
The Titus Cycles email ends: “All inquiries and requests will be answered beginning Monday, November 8, 2010.
Many of you have been partners with Titus for a very long time. We deeply appreciate your support through the years.”
Mtbr is sorry to see this once mighty brand fall on such hard times. Perhaps one day they will be able to rise from the ashes, with the right minds and money behind it, stronger than before.
Other Titus forum discussion threads are here: