Hertz navigating bankruptcy, but rental car industry expecting growth


The goliath car rental corporation Hertz Global Holdings continues to battle their way through bankruptcy proceedings post-COVID. On May 22, 2020, Hertz filed for bankruptcy protection in the throes of the pandemic with roughly $19 billion in debt and almost 700,000 rental vehicles sitting idle. In Q2 2020 alone, a net loss of $847 million exceeded their total revenue for the quarter at just $832 million. In their restructuring efforts, Hertz is considering the sale of Donlen Corporation, their leasing business acquired in 2011. Letting go of the leasing entity could provide $1 billion or more to settle outstanding debts.…

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