- The car-rental industry has seen yet another bankruptcy.
- Advantage Rent A Car, previously owned by Hertz, filed for bankruptcy on Wednesday.
- The intertwined stories of Hertz and Advantage, featuring Canadian distressed-debt investors and pro-competition American regulators, reveal how dozens of blunders sank both firms into bankruptcy.
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A former subsidiary of Hertz just went bankrupt, claiming more than $US500 million in debt.
Advantage Rent A Car, which was founded in 1963 in San Antonio, Texas, filed for Chapter 11 protection on Wednesday. The news comes less than a week after its former parent company Hertz declared bankruptcy, carrying some $US19 billion of liabilities.
Along wi…
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