Advantage Holdco seeks OK to sell airport concession agreements

By Caroline Salls

Pittsburgh, June 1 – Advantage Holdco, Inc. requested court approval of the bid procedures for the proposed sale of its concession agreements and related documents, according to a motion filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

The concession agreements are primarily held with airport authorities or other governmental entities.

According to the motion, Advantage believes the proposed expedited sale process is the only available alternative it has to a Chapter 7 liquidation.

The company is proposing a timeline under which the bid procedures hearing would be held no later than June 9, bids would be due no later than June 22, an auction would be held on June 24, if necessary, and a sale hearing would be scheduled for no later than June 26.

Advantage said the opening bid and subsequent bid increments will be announced at the auction.

Advantage Holdco is an Orlando, Fla.-based rental car company. The company filed bankruptcy on May 26 under Chapter 11 case number 20-11259.

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