The petition, filed Tuesday in federal court, indicates the company has about $50 to $100 million in assets, compared to $100 to $500 million in debt.
Move by the ride-hailing company is due to unsustainably high losses
Revenue was down 13 percent compared to the same period a year earlier
Can the U.S. car-rental business thrive in the era of Uber Technologies Inc., Lyft Inc. and, one day, autonomous vehicles?
Bets on big swings following retailers’ earnings releases increase as sector’s woes continue
"Additionally, we have directed our financial advisor, Houlihan Lokey Capital, Inc., to assist us in exploring strategic potential transaction alternatives that may enhance stockholder value. No decision has been made to enter into any transaction at this time, and there is no assurance that our exploration of strategic alternatives will result in any transaction being entered into or consummated, and there is no set timetable for the exploration of strategic alternatives."
Hope is fading for a feel-good ending at the U.S. box office.