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Hertz Global Holdings stock fall more than 20% in after-hours trading on 04/05/2020. This happens after it emerged that the rental car company has reportedly taken another step towards a potential bankruptcy filing. It was already reported that Hertz was preparing for bankruptcy last month after the rental car firm failed to make lease payments on its fleet of rental cars. Not only Hertz but also other rental car companies were already losing big market share even before the pandemic. Reason was that the rise of ride-sharing firms like Uber and Lyft have gradually eaten away at their business.

Very interesting information. Thank you @Airbusher. As a consquence it is for the time being better not to book at Hertz. There might be a risk that you don`t get a car and your prepayment and/or deposit is lost.

Hertz recently still announced that the 2020 Loyalty status is extended through January 31, 2022. But apparently points extension is not being done automatically. It must be "opted into". It is said in an email that "your points will be available starting June 1, 2020 – and they’ll be valid through December 31, 2020." I don`t know what finally will happen.

I imagine that other car rental companies are well prepared to take over Hertz as soon as they become bankrupt. It wouldn't be the first takeover

Hertz have found a last minute agreement with creditors. So there is no more any need for chapter 11 for Hertz.

Hertz is in the clear till may 24th. If they pay up by 24th then they may have to file. I have heard that Avis/Budget would probably buy Hertz.

NationalFan wrote: ↑

Mon May 18, 2020 2:29 am

I have heard that Avis/Budget would probably buy Hertz.

I hope that Hertz will survive. Better to have more competitors on the market than only a few. This is good for prices and interesting fleets.

Now it is official. Hertz in US and Canada entered chapter 11. Will see whether Hertz will survive.

Airbrusher wrote: ↑

Sat May 23, 2020 9:03 am

Now it is official. Hertz in US and Canada entered chapter 11. Will see whether Hertz will survive.

I have some doubts. They have obviously billions of debts. I wonder how somthing like this is possible and why nobody said earlier "stop"?

Bahamas wrote: ↑

Sun May 24, 2020 3:12 am

I have some doubts. They have obviously billions of debts. I wonder how somthing like this is possible and why nobody said earlier "stop"?

A management issue supported by Covid-19 of course. It will become tough for Hertz