|August 23, 2001|
Budget Terminates Master Franchisee In Sweden
|Budget Rent a Car International has terminated its master franchise agreement with Svensk Biluthyrning AB (SBAB) due to significant unpaid fees.|
According to Terry Clark, vice president, franchise management - EMEA at Budget Rent a Car International: "Scandinavia is an important region for us. It is our firm intention to remain in and develop the market further with a strong local master franchisee. We have been approached by a number of significant potential master franchisees for Sweden to take the place of SBAB and are pursuing these discussions actively."
Meanwhile, Budget Rent a Car International will be acting as the Budget franchisor in the Swedish car rental market. Continued Clark: "We wish to protect and support our sub-licensees and maintain our excellent relations with the travel trade and corporate clients until successful negotiations are concluded. Reservations continue to be serviced and many existing sub-licensees have expressed their allegiance to Budget and are keen to continue representing the global car rental brand."
Sweden generates significant outbound business to Budget's global network in Europe, the Middle East, Africa, North America and Asia Pacific.