Advantage Rent-A-Car Auction Set for Monday

According to court documents, Advantage Rent-A-Car is set to be auctioned on Monday Dec. 9 at 9 a.m. Central Standard Time. This week, the U.S. Bankruptcy Court in Jackson, Miss., approved the $36 million bankruptcy loan from Advantage’s debtor-in-possession financier, Catalyst Capital Group.

Catalyst is one of two bidders for Advantage. The other is German-based Sixt, a car rental company with a global footprint that landed in the U.S. in 2012. Advantage did not receive other qualified bids before the Dec. 4 bid deadline.

Court approval for the sale will take place at a hearing on Dec. 17.

Comment On This Story

Name:  
Email:  
Comment: (Max. 10000 characters)  
Please leave blank:
* Please note that every comment is moderated.

 
 

Newsletter: Sign up to receive latest news, articles, and much more.

Read the latest

Auto Focus Blog: A blog covering fleets, auto rental and the business of cars

Another Ridiculous “Used Fleet Vehicle” Scandal

While media reports concentrate on the sting and the “outrage,” where’s the empirical evidence that fleet vehicles are less mechanically sound than vehicles sold from private owners?

Will IoT Herald a New Era in Fleet Efficiency?

With the ELD rule finally in effect, small fleet operators need to hunt for new efficiencies. In transportation logistics, Internet of Things (IoT) systems could have similar lasting impacts as telematics.

Will Cars Become Transportation Appliances?

The cars are still the stars, but this year’s L.A. Auto Show revealed an auto industry at a crossroads.

Job Finder: Access Top Talent. Fill Key Positions.

>