UPDATE 4-Budget car rental files for bankruptcy

Newswire

(Adds comment from Budget spokeswoman) NEW YORK, July 29 (Reuters) - Car-rental company Budget Group Inc. succumbed to its heavy debt burden and filed for bankruptcy protection on Monday, as the recession in business travel that has plagued the sector since Sept. 11 claimed another victim. Budget's Chapter 11 filing followed the bankruptcy last November of rival ANC Rental Corp., parent of the Alamo Rent-A-Car and National Car Rental brands. Daytona Beach, Florida-based Budget, which ...

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