Dollar Thrifty Gives Updates on Closure Locations

Since October 2008, Dollar Thrifty Automotive Group Inc. has closed 115 corporate-owned locations of the Dollar Rent A Car and Thrifty Car Rental brands in the U.S. and Canada.
There are about 10 additional locations to be closed during the remainder of this year as leases expire.
The locations closed to date represent about 4 percent of 2008 rental revenue, and operated an average fleet of about 5,500 vehicles. The company said in a release that it did not incur any significant restructuring charges in conjunction with these closures, and does not expect any related restructuring charges in future periods.
“We have worked aggressively to eliminate underperforming and non-profitable locations from our overall portfolio, and I am glad to report based on current economic conditions that we do not anticipate any significant additional closures in future periods,” said Scott L. Thompson, president and CEO of Dollar Thrifty. “Going forward, in the normal course of business, we will closely monitor our operating locations to ensure that they meet our performance objectives, and will cease operations at locations when they do not meet those objectives, or are no longer core to our strategy.”
Dollar Thrifty has re-franchised a 11 corporate-owned locations included as part of its location closure efforts.

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