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Re: Hertz going bankrupt/possible liquidation
[Re: SXMScubaman]
#227015
05/23/2020 09:43 PM
05/23/2020 09:43 PM
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Joined: Jul 2013
Posts: 837
Florida
wilsonck
Traveler
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Traveler
Joined: Jul 2013
Posts: 837
Florida
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Bankruptcy is a restructuring, not a declaration that the company is going out of business. Many degrees of bankruptcy and this is the first step. Typically corporations have deals in place with creditors when they go in to bankruptcy. Hertz has no such deal. The feeling was they were going to file Chapter 7 which is liquidation. I was surprised to see them file chapter 11, but I'm pretty sure you'll see this go chapter 7. It is going to be at least 2 years till travel numbers are back to where they were before covid-19. Time is not on their side.
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