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The Federal Trade Commission on Tuesday began seeking public comment on Catalyst Capital wholesale airlinetickets torussia Group Inc.’s bid to acquire Advantage, the fourth-largest independent U.S. car-rental chain, out of Chapter 11.
Regulators there previously ordered Hertz to shed Advantage in connection with Hertz’s $2.3 billion of Dollar Thrifty Automotive Group Inc., a direct competitor to Advantage. wholesale airlinetickets torussia However, Advantage’s spinoff soured as the company wholesale airlinetickets torussia found itself embroiled in disputes over vehicles it leased from Hertz. As a result, Advantage sought bankruptcy protection in November and quickly sought to sell itself to Catalyst, subject to a court-overseen auction process.
wholesale airlinetickets torussia In its request for regulatory approval of the Catalyst sale, Advantage cites Catalyst’s status as one of Canada’s biggest wholesale airlinetickets torussia private equity wholesale airlinetickets torussia firms and its “proven track record wholesale airlinetickets torussia of acquiring distressed businesses and successfully turning them around.”
Advantage also disclosed what it says is Catalyst’s “compelling” plan to make sure Advantage can compete in the highly concentrated U.S. car-rental market. That plan includes more than $100 million in new capital, a new fleet of rental vehicles and focusing on airport rentals wholesale airlinetickets torussia in such markets as Baltimore, New York City and Newark.
Error message Name We welcome thoughtful comments from readers. Please comply with our guidelines . Our blogs do not require the use of your real name. Comment Comments (3 of 3) View all Comments 1:22 pm February 3, 2014 pu wrote:
The game is over for Hertz rent a car. They have to be on their last days in business. Hertz R.I.P. My company friends, family and I will never rent a car from you again. I got an old smelly car full of lice. You really suck a hairy one.
As the year goes on Hertz Rent a Car will go out of business. Hertz is going to take a big hit in the next number of days as stake holders start running for the exit. Hertz is done as an on going business. Sell sell sell Hertz now before it goes to zero.
HERTZ IS BROKE AND WILL BE CLOSING wholesale airlinetickets torussia DOWN. HERTZ HAS NO MONEY FOR NEW CAR. HERTZ IS RENTING 40,000 TO 50,000 MILE CARS THAT SMELL AND THEY CAN NOT SELL. Hertz will be closing and will leave you with out a car on your next trip. Hertz is a fraud and all the major share holders have sold out. Get your money out before Hertz goes to zero.
From Dow Jones Daily Bankruptcy Review, exclusive coverage of corporate bankruptcies, companies headed for trouble and the latest trends in bankruptcy law, distressed investing and corporate restructuring. Lead writer Pat Fitzgerald and Daily Bankruptcy Review reporters in Washington, New York and Wilmington, Del., provide insight into the big cases, who’s next to fall and what’s making news across the bankruptcy market.