Advantage Rent A Car, spun off by Hertz Global Holdings Inc. to win U.S. approval for its purchase of Dollar Thrifty Automotive Group Inc., filed for bankruptcy after talks with Hertz over vehicle lease payments broke down.

Franchise Services of North America Inc., which operates Advantage, said in a Nov. 4 statement that it failed to reach a deal to restructure vehicle lease agreements after Advantage missed a payment to Hertz. Advantage had acquired 24,000 vehicles from Hertz under the agreements.

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