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Advantage rent a car files for bankruptcy protection.
Advantage car rental bankruptcy. Law360 new york december 4 2013 551 pm est a mississippi bankruptcy judge on tuesday granted final approval for advantage rent a car to secure a 36 million loan from catalyst capital group inc which plans to buy the bankrupt rent a car company at a dec. Advantage rent a cars 36m bankruptcy loan approved. With a wide selection of sedans suvs and vans advantage rent a car provides the vehicle thats best equipped for your trip.
Simply wheelz llc which does business as advantage rent a car filed for chapter 11 protection tuesday months after its spinoff from hertz corp. Filed for bankruptcy protection monday and closed about 40 percent of its us. Advantage rent a car is the reliable link to your final destination.
Advantage rent a car has filed for bankruptcy protection and has laid off about half of the staff at its san antonio headquarters as part of a larger downsizing brought on by the nations ongoing economic crisis. Car rental chain advantage rent a car inc. As of october 25 2013 simply wheelz sold 5295 vehicles through auctions with an average loss of about 1633 per vehicle which resulted in a total loss of about 86 million.
Reuters advantage rent a car which hertz global holdings inc htzn hived off as part of a deal to buy dollar thrifty will file for bankruptcy after hertz terminated lease agreements that provided advantage with its cars. A hertz sign is seen outside a rental car office in ferndale michigan may 9 2011. Advantage rent a car announces a new corporate identity featuring a new logo an updated website and a robust new rewards program that supports the companys value driven philosophy.
Advantage rent a car features one of the newest and most responsibly maintained economy and luxury fleets in the rental industry. Retail locations citing a decline in the travel industry. Retail locations citing a decline in the travel industry.
Advantage rent a car to provide vehicles along the 58 city route. Advantage rent a car is seeking court approval to zoom through bankruptcy with a fast track auction at which its bankruptcy lender will start the bidding. On november 5 2013 advantage rent a car announced to file bankruptcy.
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