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DENVER—Mercury Cos., a Denver-based firm that owns title companies, said Thursday that it was shutting down operations in Arizona, Texas and California.
Mercury also has title businesses in Colorado and Oregon which will continue to operate.
The closures were first reported Wednesday by the Houston Chronicle. It obtained a company memo which blamed banks for cutting off cash it needed to sustain operations.
In a written statement, Mercury blamed rising economic pressures and a declining real estate market for the move.
