Mark Sutton Today, 9:59am

Downhill brand added to portfolio at a cost of $5.2 million

Dorel Industries has bought the Iron Horse brand at Auction for the sum of $5.2 million.

The sale, due to be finalised today (July 15th), includes the brand's inventory, trademarks and patents.

Iron Horse was allegedly forced to sell up due to owing three Asian suppliers a total of $5 million. Reports also suggest that the firm also owes $17 million to a number of unsecured creditors, as well as $4 million to the CIT Group.

http://www.bikebiz.com/news/30826/Dorel-buys-out-Iron-Horse