Hertz car rental company failed to negotiate another delay in payments


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.

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Leah Kunze

Leah Kunze just graduated MBA and is proud of it. She is interested in automotive industry and innovations. She well be glad to receive a mail to [email protected]

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