Bloomberg News

Simply Wheelz to File for Bankruptcy After Hertz Talks Collapse

November 05, 2013

Simply Wheelz LLC, which operates as Advantage Rent A Car, plans to file for bankruptcy in Mississippi after debt restructuring talks with Hertz Global Holdings Inc. (HTZ:US) failed.

The filing is expected today, Franchise Services of North America Inc., parent of Simply Wheelz, said in a statement. Franchise Services bought the Advantage business after Hertz was ordered to sell it to gain approval for a $2.3 billion acquisition of Dollar Thrifty Automotive Group Inc. in July.

Franchise Services put Simply Wheelz in bankruptcy after failing to agree with Hertz on credit restructuring, according to the statement.

Hertz is the world’s largest airport general use car-rental brand, according to its website.

To contact the reporter on this story: Joe Schneider in Sydney at jschneider5@bloomberg.net

To contact the editor responsible for this story: Douglas Wong at dwong19@bloomberg.net


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Companies Mentioned

  • HTZ
    (Hertz Global Holdings Inc)
    • $28.7 USD
    • 0.16
    • 0.56%
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