Hertz filing for bankruptcy as early as this weekend: report – Business Insider


Hertz filed for bankruptcy Friday night after failing to reach an agreement with lenders, The Wall Street Journal first reported Friday.Hertz has around $19 billion in debt, including $4.3 billion in corporate bonds and loans as well as $14.4 billion of debt backed by their vehicles, according to The Journal.The car-rental business has been decimated as the pandemic has ground travel to a halt, forcing Hertz’s CEO to resign as the company missed lease payments and laid off 10,000 workers last month.Hertz’s stock plunged in after-hours trading following the news.Visit Business Insider’s homepage for more stories. Car-rental giant Hertz filed for bankruptcy Friday night after it was unable to reach an agreement with its biggest lenders, The Wall Street Journal first reported.Hertz filed for Chapter 11 protections in the U.S.
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