TSX-V Trading Symbol: FSN
RIDGELAND, MS, Nov. 6, 2013 /CNW/ - FRANCHISE SERVICES OF NORTH AMERICA INC. ("FSNA" or the "Company") (FSN.V) announces that its wholly-owned subsidiary, Simply Wheelz
LLC, which does business as Advantage Rent A Car, filed for U.S.
federal bankruptcy protection in the federal bankruptcy courts of the
State of Mississippi today. First day motions with respect thereto
have been scheduled for November 7, 2013.
FSNA is a publicly traded company listed on the TSX Venture Exchange.
The Company and its subsidiaries own the following brands: Advantage
Rent A Car, U-Save Car & Truck Rental® ("U-Save"), U-Save Car Sales, Rent-A-Wreck of Canada, PractiCar, Auto Rental
Resource Center ("ARRC"), Xpress Rent A Car and Peakstone Financial Services.
The Company operates the Advantage car rental brand at 72 corporate
locations in 33 states including airport locations servicing 60 of the
top 70 airports across the United States. Advantage is the fourth
largest independent rental car company in the United States.
U-Save, together with its subsidiary ARRC, has over 900 locations
throughout the United States and is one of North America's largest
franchise car rental companies. U-Save currently services 19 airport
markets in 13 different states. Although primarily based in the United
States, U-Save has 18 international locations in Mexico, Greece, the
Middle East, Latin America, and the Caribbean.
Practicar Systems Inc. owns the rights to the Rent-A-Wreck® and the
PractiCar® trademarks for all of Canada. The Rent-A-Wreck® system
operates a network of 61 franchise locations from coast-to-coast in
Canada, providing a range of vehicle rental, leasing and sales options
to its customers. The Rent-A-Wreck® system has been in continuous
operation in Canada since 1976.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Franchise Services of North America Inc.
For further information:
For further information on FSNA or any of its operating subsidiaries please contact:
Thomas P. McDonnell, III
Franchise Services of North America Inc.