 The new competition from companies like Big Dog, American IronHorse and many other Harley clones companies, and also because of a declining American motorcycle market since the beginning of 2007.In January 2007, Titan Motorcycles Cie (TMC) had filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code.In August 2007 an asset purchase agreement was signed between TMC (Titan Motorcycle Cie) debtor in-possession and Arizona Motorcycle Works as buyer where all assets of Titan were sold to Arizona Motorcycle Works.