June 27, 2017 / 10:01 PM / in 5 months

BRIEF-Franchise Services Of North America announces chapter 11 bankruptcy filing

June 27 (Reuters) - Franchise Services Of North America Inc :

* Franchise Services Of North America Inc announces chapter 11 bankruptcy filing

* Franchise Services Of North America - anticipates subsidiaries will continue to operate businesses in normal course during pendency of chapter 11 case

* No layoffs are anticipated at co or any of its subsidiaries in connection with the bankruptcy

* Franchise Services Of North America - litigation expenses relate to acquisition of Simply Wheelz Llc, D/B/A Advantage Rent A Car, was led by Macquarie, affiliates

* Franchise Services Of North America Inc - company also remains impaired by potential claims that arise from advantage acquisition

* Franchise Services Of North America - decision to seek bankruptcy protection necessitated by liquidity issues in litigation against ex-financial advisor Source text for Eikon: Further company coverage:

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