But the purchase coincided with the appointment of receivers Edward Kempka and Roger Marsh at Jasmor, and they will contact the hire company's creditors within 28 days. A Jasmor spokesman said: 'The car rental industry is undergoing a period of consolidation. As a result, it was felt that the long-term interests of the company, its employees and its customers would be best served by the brand being developed with the financial support of one of the world's largest car and van rental companies.'
Budget will retain the Jasmor brand, but Jasmor chief executive Richard Bledsoe has left the company. Robert Shaw will become Jasmor operations manager and report to Doug Sawers, managing director of Budget. 'The acquisition fits in perfectly with our aggressive business strategy,' said Sawers. 'Both from a fleet and corporate customer standpoint the deal makes perfect sense.'