Coronavirus: Hertz prepares for bankruptcy – Economy

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The car rental giant Hertz is preparing to file for bankruptcy. According to reports from the Wall Street Journal, the company has not reached an agreement with creditors and may request Chapter 11 as early as the next few hours. Hertz weighed on the coronavirus that caused the demand for car rental to drop and the prices of used cars to drop, causing its fleet to lose value.

Hertz sinks to Wall Street with the Wall Street Journal’s rumors about a possible bankruptcy soon. The thiol of the car rental giant lost 43.66% in after hours trading. Hertz, according to the newspaper, did not reach an agreement with creditors after not paying last month. Hertz’s difficulties are linked to the coronavirus epidemic that has plunged demand for rental.

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