Car-sharing firm Zipcar plans to cease operations in UK
Zipcar, a subsidiary of Avis Budget Group, plans to cease operations in the UK and suspend new bookings beyond the year-end. The closure is pending formal consultation with UK employees, with no specific reason provided. Zipcar, acquired by Avis in 2013 for $500 million, offers car rental services across Europe and North America.
Dec 1 (Reuters) - American car-sharing firm Zipcar, a subsidiary of Avis Budget Group (CAR.O) , said on Monday it plans to cease its operations in the United Kingdom and suspend any new bookings beyond the end of the year.
The company added that it is awaiting timing on the closure of its operations, pending the outcome of formal consultation with its UK employees.
No specific reason was provided for proposing to close its UK operations.
Zipcar offers car rental services across Europe and North America for students and businesses, with over one million members. It was acquired by Avis Budget Group in 2013 for about $500 million.
