Hertz Global Holdings Inc., one of the nation’s largest car-rental companies, filed for bankruptcy protection Friday, saddled with about $19 billion in debt and nearly 700,00 vehicles that have been largely idled because of the coronavirus.
The Estero, Fla.-based company entered chapter 11 proceedings in the U.S. Bankruptcy Court in Wilmington, Del., hoping to survive a drop-off in ground traffic from the pandemic and avoid a forced liquidation of its vehicle fleet.
keepdajuice
They were Baaaadddddd.... i dont think covid had anything to do with it. customer service - 0, cars - horrible, sales reps at the desk - rude as hell
I never rented from Hertz despite 'discounts' and constant ads from AAA. Why? Enterprise was always cheaper and closer to my home. Why pay $42/day when you can pay $17/day for a car?
Wow, this really hertz
Govt can accept this company bankruptcy, but they don't make Boeing bankruptcy.
MIDDLE AMERICA is subsidising COUNTRY CLUB AMERICA ( OPEN BUSINESS | SAVE JOBS | SAVE LIVES )
Come on, wsj. Continue shilling for the most incompetent regime because TAX CUTZ. Which in any case did jacksquat for these companies.
Una mierda hertz
True story: As Gold member, I spent *thousands* with Hertz, eventually accumulating points for 2 full months of free rental. When I tried to redeem them, Hertz flagged my account & put me on their DNR (Do not rent) list🤣 Things like that are why they’ve gone bankrupt. Not COVID
Well that Hertz
🤨
Only ever rented hertz on the company’s dime. Never personal
The rental cost is too high
The Wuhanvirus takes out Hertz , a major USA car-rental company.
Last time I rented a herzt I was cheated
The cure is worse than the disease.
Remember when
They struggled because in a market with an elastic product they were always the highest priced by a large margin. You can ask for 10 or 20% more based on name/rep. You can't ask 100% more.
No, the coronavirus is not responsible for the fall of stock prices
Coronavirus Shutdown and the Worldwide Corporate Debt Crisis
COVID-19: Why Did Hundreds Of CEOs Resign Just Before The World Started Going Absolutely Crazy
Despite coronavirus-caused cutbacks, Israel expects to get full $3.8 billion
Bookmarked* will read this later
Now that is a pity. I always use Hertz in my travel. Preferred them to Avis.
Yay I'm glad that demon company is the next to bite the dust
The chapter 11 filing allows the company to keep operating while it devises a plan to pay its creditors and turn around the business.
Wow. that's bad. Maybe I can buy one of their used cars for sale for cheap? usedcars ?
There goes the used car market There goes the new car market
Another company that has been circling the drain for a few years. The pandemic dealt the final blow, but this company - much like JCPenney, Neiman Marcus, J-Crew, et al - has been dying for quite some time.
Owners only can survive. Not rental people.
Hertz Global Holdings Inc filed for bankruptcy in Delaware .
Many companies will need and get bailout funds
yet they survived oj simpson