Tagged Bankruptcy

Judge Dismisses FSNA Bankruptcy

The court ruled that the bankruptcy was “filed without proper corporate authority," and that a subsidiary of Macquarie Capital, FSNA's largest shareholder, had not consented to the bankruptcy.

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Rent-A-Wreck Files for Bankruptcy, Cites Litigation Costs

Rent-A-Wreck of America Inc. has filed for Chapter 11 bankruptcy in Delaware, saying costly and lengthy litigation with the company’s founder has strained its liquidity. Rent-A-Wreck has spent $2.7 million in legal fees and expenses over the past 10 years.

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FSNA Files for Bankruptcy to Protect U-Save Brand

Franchise Services of North America Inc. (FSNA), franchisers of the U-Save brand, has filed for Chapter 11 bankruptcy protection to preserve the value of its assets for the benefit of creditors and shareholders.

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Safeguarding Your Business with Brokers

While the high-profile bankruptcy of Atlas Choice has left many car rental companies wary of working with brokers, rental companies can take steps to protect themselves and ensure a productive relationship.

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When Market Engineering Goes Bad, Again

The bankruptcy of the Haggen grocery chain shows the FTC hasn’t learned its lesson.

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FTC Approves Advantage Sale to Catalyst Group

The Federal Trade Commission (FTC) has approved an application by Franchise Services of North America Inc. (FSNA) to sell its Advantage Rent A Car business to The Catalyst Capital Group Inc.

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Thirty Advantage Locations to Close, Reports FSNA

Effective today, Franchise Services of North America Inc. has announced that its wholly-owned subsidiary Simply Wheelz LLC — which does business as Advantage Rent A Car — has determined to cease operations at 30 Advantage locations.

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Court Approves Advantage Sale to Catalyst Group

The United States Bankruptcy Court for the Southern District of Mississippi has declared that Catalyst Group Inc. is the prevailing purchaser in the auction of Franchise Services of North America’s wholly-owned subsidiary, Simply Wheelz LLC (which does business as Advantage Rent A Car).

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Our Hope for Advantage Rent A Car

The work for the new Advantage has just begun.

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Catalyst Wins Bid for Advantage

Catalyst Capital Group Inc.’s bid for bankrupt Advantage Rent A Car was approved at auction yesterday over the only other bid, from Sixt.

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Advantage Rent-A-Car Auction Set for Monday

Two bidders are vying for the bankrupt car rental company.

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Advantage Bankruptcy: What We Know Right Now

The most recent court documents give clues as to what may have happened to Advantage Rent-A-Car.

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Update on Simply Wheelz Bankruptcy Proceedings

The U.S. Bankruptcy Court has entered an interim order to approve a $20 million line of credit facility for Advantage Rent A Car. Catalyst Capital Group has been named as Advantage's debtor-in-possession financier.

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Advantage Placed Under Bankruptcy Protection

Advantage Rent A Car will be placed in Chapter 11 bankruptcy Tuesday, after its new owners logged huge auction losses and questioned the book value of 24,000 vehicles acquired from Hertz last year.

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A Coda for Coda Automotive

Coda Automotive’s bankruptcy is not surprising, though it was surprising that the company was able to play off the good intentions of the green industry for as long as it did.

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Suzuki to Discontinue Auto Sales in Continental U.S.

The company announced it plans to realign its business to focus on its non-automotive products.

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

What a Connected Fleet Means to Avis (and Car Rental)

Counter bypass is just the beginning. The promise of a “data-driven ecosystem” that connects renters with the rental agency, retail services, and even the city is a better managed fleet, an improved user experience, and new revenue opportunities during the rental itself.

Should Peer-to-Peer Renters Pay Airport Car Rental Fees?

The question is central to the City of San Francisco’s lawsuit against Turo for operating without a permit at San Francisco International Airport.

Hard Times Ahead for the Compact SUV Segment?

The hottest segment today is facing a glut of models and volume in tomorrow’s wholesale market.

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