The company, which operates the Hertz, Dollar and Thrifty car-rental brands, had been holding talks with creditors after missing significant car-lease payments in April. Forbearance and waiver agreements on the missed payments were set to expire on Friday.
The creditors had asked for upfront compensation from the company in exchange for a further extension, but the two sides could not come to an agreement, according to the WSJ report.The more than a century old car rental firm, whose largest shareholder is billionaire investor Carl Icahn, is reeling from government orders restricting travel and requiring citizens to remain home.
Estero, Florida-based Hertz has more than $18 billion of debt and roughly 38,000 employees worldwide as of the end of 2019.Our Standards:
Oh my! There was a time all I did was rent from hertz each time I travelled for work. Then we opened our media company lyft become our go to mode of transport.
For those waiting on that perfect Chevy Cruze or Chrysler 200 deal, this is your olympics.
Guess Avis really DOES try harder?
ooph that hertz
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