Bay and Drive Rental Operations to Close, Dozens of Cars to Be Sold Online

The rental operations of the car agency Bay and Drive will be immediately shut down, with dozens of vehicles slated for sale through an online auction. The decision was made by the company's receivers, Adv. Avner Cohen and CPA Chen Bardichev, who filed an urgent request with the Central District Court for instructions to proceed with the sale. This move, agreed upon by the company and secured creditors Carsol Motors and Khlomoobil, aims to halt the ongoing losses incurred by the unprofitable rental division. The court has approved the request to solicit bids for the company's vehicles via the Bidspirit online sales platform, though final sale approval is pending.

Bay and Drive, established in 1997, has operated in various sectors including sales, leasing, rentals, and trade-ins. In September, the court ordered a stay of proceedings after the company accumulated debts of NIS 97 million, appointing Cohen and Bardichev to oversee its assets and operations. The auction is scheduled for this Thursday, with separate sessions for different vehicle types. The vehicles offered include models from 2022-2025, with zero kilometers driven, featuring brands such as Hyundai, Jaecoo, Mitsubishi, Chery, Renault, and Dacia.

The receivers determined that continuing the rental operations would result in unnecessary daily expenses. Consequently, they decided in consultation with the company's management to close the rental division immediately and retrieve all rented vehicles by the end of October 2026. The company's fleet comprises approximately 95 vehicles, primarily used for leasing and rentals. Carsol Motors and Khlomoobil hold liens on about 95% of these vehicles. The sale process will occur in batches as vehicles are returned and become available for inspection. Interested parties can view the cars at Bay and Drive's lot in Netanya during weekdays until 3:30 PM.