Breaking: Hertz is preparing to file for bankruptcy, say people familiar with the matter, after the coronavirus pandemic decimated the car-rental market
Hertz Global Holdings Inc. is preparing to file for bankruptcy as soon as this weekend after failing to reach a standstill agreement with top lenders, according to people familiar with the matter.
The car-rental company is planning to seek chapter 11 protection in the coming days after government restrictions on travel cut down on air and ground traffic, decimating the vehicle rental market, these people said. A bankruptcy would make Hertz one of the highest-profile corporate defaults yet stemming from the coronavirus pandemic’s...
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