In addition to ordinary cars, Hertz also sells machines like the 100th birthday Corvette or the Camaro ZL1.
Hertz Car Rental was founded more than 100 years ago in 1918. The small company based in Chicago was then only called Rent-a-Car Inc. and some Ford T-models could be rented from them. The company developed nicely and grew along with driving, making it one of the largest car rental companies today. However, the coronavirus has cracked down on the company so much that they are asking for bankruptcy protection. Hertz and uncertainty are present in 12,400 locations around the world, severely affected by the lack of travel.
Hertz explains in its bankruptcy petition that it has $ 25.8 billion in assets and a debt of $ 24.4 billion. Its two main creditors, IBM and Lyft, have been successfully negotiated to find a solution in the short term, but negotiations on state aid have failed. That is why they eventually filed for bankruptcy.
The bankruptcy will affect U.S. and Canadian divisions, and they will also be forced to get rid of cars. As prices have just fallen in the U.S. used car market, it will not be easy to sell rental cars. Hertz has well over 500,000 cars in the United States.
(Source: vezess.hu / photo: pixabay.com)