New Delaware Chapter 11 Filing – Rent-A-Wreck of America, Inc.
Rent-A-Wreck of America, Inc., and its affiliate Bundy American, LLC have filed a chapter 11 petitions before the United States Bankruptcy Court for the District of Delaware (Lead Case No. 17-11592). The privately-held Laurel, Maryland-based companies are in the business of selling and administering franchisees for the operation of vehicle rental, leasing, car sharing and rent-to-purchase, rent-to-own, lease-to-own and used vehicle sales under the “Rent-A-Wreck” and “The Smart Alternative” names. As set forth in the first day declaration, the debtors attribute their filings in large measure to the cash expended in 10 years of litigation with the founder and former owner of the companies. The debtors have also filed a motion to obtain debtor-in-possession financing. The cases have been assigned to the Honorable Laurie Selber Silverstein. The docket is available through Kurtzman Carson Consultants.
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