Thread regarding Hertz layoffs

BANKRUPTCY Looms

https://nypost.com/2020/04/15/car-rental-firm-hertz-seeks-coronavirus-bailout/amp/

"Hertz Global Holdings, faces a $1 billion-to-$1.5 billion budget shortfall in the coming months ...
But the publicly traded car-rental chain only has $1 billion in cash on hand to make good on that debt, according to financial records. Without government aid or relief from lenders, Hertz could be forced to file for bankruptcy by summer."

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| 982 views | | 1 reply (April 26, 2020) | Reply
Post ID: @OP+14vRNFlH

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I don't see how bankruptcy can be avoided at this point. Company debt is out of hand, COVID decimated revenue, Hertz stock is junk rated and financial commitments are soon coming due. 11,000 layoffs will barely dent the balance sheet. Uncle Sam has said no to a federal bailout for the rental car industry and for good reason.

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