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Title: Car hire firm Hertz files for bankruptcy amid coronavirus pandemic Post by: grahame on May 23, 2020, 15:58:23 From ITV (https://www.itv.com/news/2020-05-23/car-rental-company-hertz-files-for-bankruptcy-amid-coronavirus-pandemic/)
Quote Car hire firm Hertz files for bankruptcy amid coronavirus pandemic Car rental company Hertz has filed for bankruptcy due to debt and the crippling of global travel by the coronavirus pandemic, according to court documents. The firm, which has more than 400 outlets across the UK and Ireland, was 18.7 billion US dollars (£15.3 billion) in debt at the end of March with only 1 billion dollars (£820 million) of available cash. It was recently forced to cut 12,000 people from its global workforce and put another 4,000 on furlough, but the measures came too late to save the 102-year-old business. Title: Re: Car hire firm Hertz files for bankruptcy amid coronavirus pandemic Post by: stuving on May 23, 2020, 16:14:37 But note - from the FT (https://www.ft.com/content/ee562ba8-a5ea-48fe-ae41-8da84637404a):
Quote The Florida-based company said its US and Canadian subsidiaries had filed for Chapter 11 bankruptcy after it failed to meet a payment deadline agreed with its lenders. Hertz had already missed a payment earlier last month but its lenders had agreed to postpone the payment to Friday. Hertz’s European, Australian and New Zealand operations are not affected by the filing. Title: Re: Car hire firm Hertz files for bankruptcy amid coronavirus pandemic Post by: GBM on May 23, 2020, 16:28:07 The BBC also reporting it's the USA section only affected; Europe and other areas not affected - (as yet?)
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