Jim Walker & co has this morning told BikeBiz that a container of Iron Horse bicycles has been siezed by forwarding agents Genesis.
It is believed that the firm has intercepted the shipment as a result of the monies thought to be owed to them by the Iron Horse company in America. However, the UK distributor has warned that they believe that Genesis may not be entitled to sell this container and that dealers should be on their guard.
It is also understood that the manufacturing factory for the items in the container is, as yet, unpaid and that the Ironhorse company itself is still in Chapter 11 proceedings in the US and accordingly, may have a claim to the title to these goods.
Accordingly, Jim Walker & Co advises any dealers/distributors who have been contacted about purchasing this container to check the legal position carefully with advisers before proceeding with the purchase of any bikes.
Naturally, Jim Walker & Co will not be able to offer any service or back-up for items purchased from Genesis.