Europcar

Car rental company Starcar will close its remaining locations in City‑Süd (Hamm), Langenhorn and Altona by February 28 to process vehicle returns. The company filed for insolvency in October and ceased regular operations at the end of December. On January 23 the winding-up, including subsidiaries, was announced; there was no takeover interest from the industry or investors. About 170 employees were still employed most recently. » More on finanzen.net

Starcar filed for insolvency in October and halted operations at the turn of the year; a planned sale and a restructuring under self-administration failed. Large providers such as Europcar, Hertz and Avis are also burning through large amounts of cash; problems include IT, wrong sales channels, falling residual values and the integration of electric cars. Some providers like Sixt are finding routes to success, but overall the sector’s situation remains strained. » More on manager-magazin.de

The insolvent car rental company Starcar and all its subsidiaries are being wound down after no buyer was found. Of the former 615 full-time employees, around 170 are still working to process about 10,000 vehicles. Disposal is taking place via the automotive trade at currently 23 intake locations; returns to lessors and partners are being pursued. Insolvency administrator Christoph Morgen also warns of fraudulent emails attempting to extract payments or data. » More on wiwo.de