Hertz, a global giant of car hire, has filed for bankruptcy in the United States and Canada because of the difficulties caused to the company by the pandemic Coronavirus: did you know the company in a statement issued to the press. “The impact of the COVID-19 on the question of shift was sudden and dramatic, causing a sharp decrease in company revenue and bookings in the future”, they explain from Hertz. In the filing of Chapter 11 in the USA are not included in operational activities in Europe, Australia and New Zealand.
The pandemic Coronavirus, eliminating the question of Hertz, has further compounded the financial situation of the company, which was burdened by a debt of $ 20 billion. After having missed a payment last month, Hertz failed to convince its creditors to grant it more time to pay and try to take advantage of the reopening of the United States. The failure to reach an agreement with creditors has forced Hertz to resort to Chapter 11, according to the law, the u.s. bankruptcy that allows businesses that use restructuring as a result of a severe financial distress. Bankruptcy, explain to Hertz, “will protect the value of our assets will enable us to continue to operate and serve our customers and will give us time to lay a more solid financial foundations” that will “successfully navigating the pandemic, and position ourselves for the future.”
Hertz had hoped until the end in aid of the american government in the field of car, but the funds never came. And so the good results of the company in the first two months of the year, when revenues were up 6%, are not earned anything and are gone up in smoke. Weigh has been the collapse in demand for car hire in march, the month in which the airports, the places where Hertz produces the most gains, have become deserts. Hertz in recent times seemed to have recovered from the great difficulties after the crisis of 2008, but the COVID-19 sparigliato the cards on the table.