Bankrupt Hertz Needs $4 Billion To Buy A New Fleet Of Vehicles

Hertz is looking to secure a $4 billion financing package to refresh its fleet of vehicles as it tries to get back on its feet.

The rental car giant has been hit hard by coronavirus shutdowns and the lack of travel around the world. It filed for Chapter 11 earlier this year and in October, secured $1.65 billion in financing to help it through bankruptcy proceedings. It has since filed a motion asking the U.S. Bankruptcy Court in Delaware to approve the financing that will keep it operational through 2021.

dumpsty - 11/3/2020 11:42:14 AM

+3 Boost

hertz should be dismantled & sold in pieces or absorbed by the other remaining rental companies. hertz has had questionable & ethical business entanglements with Ford in the past. they seem to now exist for automakers to ship slow-selling products.

the request for a new $4bln line of credit should be a definite hard-pass.

TauronB2G - 11/3/2020 11:46:26 AM

+3 Boost

Shiiiiiit... I need them to get it. The stock price has dropped dramatically. I need to make some of my money back.

Tarzan91303 - 11/3/2020 1:23:14 PM

+2 Boost

They were a pretty shady company, with excessive fees and stiff anti refund policy, so I dont feel bad for them. Bye Felicia.

PUGPROUD - 11/3/2020 2:13:32 PM

+2 Boost

Carl Ichan squeezes all his investments to his advantage and doesn't give a damn about other constituents (investors, shareholders, employees, or creditors) Man is a snake and will siphon off as much of any new money as he can.

mre30 - 11/3/2020 4:24:27 PM

+2 Boost

Get Nissan on the phone...finally, a buyer for all those unsold Altimas, Pathfinders, and Rogues.