Advantage Rent A Car, which was founded in 1963 in San Antonio, Texas,on Wednesday. The news comes less than a week after its former parent company Hertz declared bankruptcy, carrying some $19 billion of liabilities.
Along with Hertz, the economic slowdown stemming from the coronavirus pandemic has brought down big names like J.C. Penney and J. Crew. But none of these companies were flourishing before the pandemic — including Advantage, which has a few dozen locations across the US. Wednesday marks the third time since 2008 that Advantage has filed for bankruptcy.
For these companies, their problems stem far before 2020. The entangled stories of Hertz and Advantage, the former of which was once America's No. 2 largest car rental company, shows how years of blunders and missteps placed both firms in a tenuous space by the time that the pandemic hit. But, by 2013, Hertz was eyeing a purchase of Dollar Thrifty Automotive Group, which was then the fourth-largest rental car business in the US.
Zombie 🤷♂️
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bankrupt Hertz doubled down on sedans when Americans wanted SUVs: WSJ - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
The Internet of Medical Things report - Business Insider - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Hertz discounted Chevrolet Corvettes gone after declaring bankruptcy - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Did Jared buy them all? Wasn’t widely advertised
Source: BusinessInsider - 🏆 729. / 51 Read more »
Mobile messaging time spent will spike as users shift away from traditional text messaging - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Don't make the mistake of waiting for the 'best' time to invest - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. mfarrish3 uc_busi215
Source: BusinessInsider - 🏆 729. / 51 Read more »
SUCCESS INSIDER: Management consulting, Scott Galloway, résumé advice - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »