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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.

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.

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.

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.

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.

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).

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.