Hertz files for bankruptcy as the coronavirus pandemic crushes the car-rental industry - Business Insider

last Saturday, and the company's board of directors named Paul Stone, who previously served as the company's executive vice president and chief retail operations officer for North America, to step in for Marinello.

Hertz, whose parent company, Hertz Global Holdings Inc., also owns rental brands Dollar and Thrifty, had said in ain April that it was considering seeking bankruptcy protections after it "did not make certain payments" on its operating lease. Hertz said it "could be materially and negatively impacted" if discussions with lenders to reduce those payments weren't fruitful by the first week of May.

Hertz's stock dropped by as much as 50% in after-hours trading following the The Wall Street Journal's initial report that the company would file for bankruptcy on Friday night.

Upadek giganta. A co mzją powiedzieć mali i średni przedsiębiorcy w Polsce?

Any insights on who will go down with it? Which banks / institutions are knee-deep into debt. Would be good to know where it Hurtz. Terrible to see a company go bust that has more than 100 years of history....

Sometimes your business can fail without doing anything wrong

They were the least competitive in their industry, so no surprise and no big loss to consumers.

Dude it was two fucking months... how could they. Millions survived high house rent without a steady income.

Good, paying 85 bucks a day, plus mileage an if course fuel, is outrageous. I can believe how expensive they got before covid.

It 'Hertz' to see this 😭

Someone will buy Hertz, maybe DollarCars will for $1 a share 👊🏻

Damn, another one falls to the curse of the avocado toast habit.

Lol ahhhh hah that’s what you get for that punk ass smoking fee lol

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Hertz filing for bankruptcy as early as this weekend: report - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. I remember being at a Hertz location in Denver. Hundreds were stranded who had reserved cars, yet the location had none. It seems like a poorly run business. Surprised Hertz didnt disappear 2 years ago, who rents cars now? I feel for the employees, but not for the company. They ran a scam business when it came to all the “extras” and their high pressure dishonest sales tactics
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WSJ News Exclusive | Rental-Car Company Hertz Files for BankruptcyOne of the nation’s largest car-rental companies entered chapter 11 proceedings hoping to survive a drop-off in ground traffic from the pandemic and avoid a forced liquidation of its vehicle fleet. yet they survived oj simpson Hertz Global Holdings Inc filed for bankruptcy in Delaware . Many companies will need and get bailout funds
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