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May 31, 2024
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RIP Hertz equity holders / par creditors, but the company itself would likely experience minimal business interruption during the restructuring process (provided it’s a ch 11 recap w/ adequate DIP financing in place)
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I mean, yes. That comment was meant to address the “RIP” comment. In a chapter 11, there’s a path to business continuity post emergence whereas in chapter 7 the business / brand would cease to exist.
Barring any operational restructuring (location closures / geographical optimization) during the process, the average consumer will not notice a difference.
Ouch that Hertz
Hertz fleets are geographically located by most airports. Consequently, they rely on people to travel. I think they are screwed.
It Hertz
I wonder if we’ll see a ch. 22 situation- I just don’t see discretionary travel picking up anytime soon, and I think the overall reduction in traveling and the progressing growth/normalization of Uber will just accelerate the demise of the rental car industry.
Boomers will still select Hertz over Uber but I think you’ll be proven correct eventually.
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