RIP Hertz?

A bit surprised Hertz hasn't been able to get government support yet while all the airlines did. Doesn't seem fair but Hertz' aggressive business model kind of had it coming

Comments (8)

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  • Analyst 1 in IB - Restr
May 22, 2020 - 9:48pm

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)

  • Analyst 1 in IB - Restr
May 22, 2020 - 10:11pm

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.

May 22, 2020 - 11:32pm

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.

May 30, 2020 - 1:07am

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