Consultation between car rental company Hertz and its creditors about deferred payment has stalled. Bloomberg writes this on the basis of insiders. A deadline will expire later Friday. Hertz ran into problems when both business trips and vacations ceased due to the corona measures that many countries took. As a result, hardly more cars were rented.
In April, creditors also granted Hertz deferred and settled approximately $ 400 million on lease contracts. Back then, they weren’t bothered about that because the price of second-hand cars had fallen by more than 15 percent and they were afraid they wouldn’t earn their money back in Hertz bankruptcy. Nowadays occasions are worth a bit more and creditors dare to bet higher.