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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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Franchise Services of North America (FSNA) will be opening seven U-Save Car & Truck Rental locations in the U.S. and internationally, including three locations in New Jersey, one location in Florida, one location in Massachusetts and two locations in Jamaica.
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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.
Read More →The modified final order adjusts some of the dates by which Hertz must transfer certain airport rental locations, clarifies some details regarding the possible resale of the divested assets and notification of key staffing changes.
Read More →Franchise Services of North America Inc. announces a partnership between Advantage Rent A Car and the global Europcar brand.
Read More →FSNA opened new rental locations at Pittsburgh International Airport and Hilo International as in-terminal operations, and has also moved pre-existing off-airport operations at Raleigh-Durham International Airport and Charlotte Douglas International Airport to in-terminal operations.
Read More →Revenue and the net loss for the 2012 first quarter, which ended Dec. 31, 2012, were $2,586,248 and $1,151,696 respectively. The 2011 first quarter figures were $2,622,397 and a net loss of $340,305.
Read More →As part of Hertz's divestiture of the Advantage brand to Franchise Services of North America (FSNA), this is one of the scheduled acquisitions of additional on- and off-airport locations.
Read More →The net loss reported by Franchise Services of North America for its 2012 fiscal year includes non-recurring expenses related to the proposed acquisition of the Advantage Rent-A-Car brand.
Read More →The company will acquire all 26 of the on-airport locations that the FTC required Hertz to divest.
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