Vrtucar to Acquire Community CarShare
Community CarShare plans to dissolve the carsharing cooperative due to financial issues.
Photo courtesy of Vrtucar
Photo courtesy of Vrtucar
Community CarShare is planning to dissolve due to financial issues, according to an article by The Record. The article reported that Community CarShare's total liabilities were nearly $796,500 and total assets were just under $227,000 as of April 2017.
The nonprofit carsharing cooperative received a letter of intent from Vrtucar, an Ottawa-based subsidiary of Montreal's Communauto Inc. to buy it. Vrtucar would acquire Community CarShare's assets and debts.
Community CarShare has operated in the Waterloo Region for two decades.
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