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Oggetto Discussione: Hertz car-rental company reportedly prepp Posta RispostaInserisci Nuova Discussione
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Registrato: 26 Mag 20
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Postato: 18 Ott 20 alle 09:33 | IP Salvato Riporta xysoom

Hertz car-rental company reportedly prepping for possible

Hertz is preparing for a potential bankruptcy filing, The
Wall Street Journal reported Wednesday.The situation is
fluid, sources told the paper, as the company hopes to
reduce lease payments by May 4.The company laid off
10,000 employees — more than a quarter of its total
workforce — in April.Visit Business Insider's homepage
for more stories.To get more news about
WikiFX, you can visit
wikifx official website.

  Car-rental company Hertz is preparing for a potential
bankruptcy filing, The Wall Street Journal reported
Wednesday, as the coronavirus pandemic brings nearly all
travel to a standstill.People familiar with the matter
told the paper that Hertz is working to reduce its debt
payments and is in talks on a forbearance agreement that
could help it avoid bankruptcy. The situation remains
fluid, according to the Journal's sources.Hertz did not
immediately respond to a request for comment from
Business Insider. Shares of Hertz declined more than 15%
in trading Wednesday, as broader indices rose, following
The Wall Street Journal's report.


  The news of a possible bankruptcy arrives two days
after Hertz on Monday said in a regulatory filing that it
“did not make certain payments” on its operating lease
as it remains in discussions with lenders to reduce its
payments. If those discussions aren't fruitful by the
first week of May, “Hertz could be materially and
negatively impacted,” it said.Earlier in April, the
company laid off 10,000 workers — about 26% of its
workforce at the end of 2019 — “in an effort to align
staffing levels with travel demand.”Ryan Brinkman, an
analyst at JPMorgan, theorized on April 23 that
government assistance could help Hertz remain solvent.
“We do think a potentially large amount of cash could be
made available to Hertz from the federal government,
potentially solving any liquidity concerns, although we
are also uncertain with regard to the terms,” he said in
a note to clients.
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