Car hire firm Avis Europe said it was investigating possible financial irregularities at its Portuguese subsidiary.
Net assets may have been overstated by around €3 million ($4 million) as of December 31st, and the company has suspended some of its Portuguese management as it looks into the possible malpractice, Avis said today.
The rental firm added that pretax profit for the current year could be impacted by approximately €3 million plus legal costs.