4th-Largest US Rental Car Company, Advantage, Files for Bankruptcy: 3rd Time in Decade, Hertz & Private Equity Written All Over It

by Wolf Richter
Wolf Street

The “bare bones” petition is a sign that “something was about to happen.” Pressure piles on the used-vehicle wholesale market.

The second major rental car company popped in less than a week – but this one is owned by a private equity firm, Catalyst Capital Group in Canada. Advantage Holdco Inc., the holding company of Advantage Rent-a-Car, the fourth largest rental car company in the US, filed for Chapter 11 bankruptcy on Tuesday late evening.

The filing included subsidiaries Advantage Vehicles, E-Z Rent A Car, Advantage Opco, Central Florida Paint & Body, Advantage Vehicle Financing, and RAC Vehicle Financing.

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