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Hertz Exits Bankruptcy, Expects 'Strong Financial Results' in 2021

Hertz Exits Bankruptcy, Expects 'Strong Financial Results' in 2021
autoweek.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from autoweek.com Daily Mail and Mail on Sunday newspapers.

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Hertz Exits Bankruptcy and Expects 'Strong Financial Results' in 2021

Hertz Exits Bankruptcy and Expects 'Strong Financial Results' in 2021
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Hertz Exits Bankruptcy, Expects 'Strong Financial Results' in 2021

Hertz Exits Bankruptcy, Expects 'Strong Financial Results' in 2021
caranddriver.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from caranddriver.com Daily Mail and Mail on Sunday newspapers.

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Rental car company Hertz emerges from bankruptcy, with changes to board

Rental car company Hertz emerges from bankruptcy, with changes to board
Laura Layden, Fort Myers News-Press
Hertz files for bankruptcy
Replay Video
Hertz has emerged from bankruptcy.
The Florida-based rental car company in business for more than 100 years announced its anticipated successful exit from Chapter 11 bankruptcy late Wednesday afternoon.
In a news release, Hertz Global Holdings, parent of The Hertz Corp., said it had emerged as a financially and operationally stronger company that is well-positioned for the future.
© Ted Shaffrey/AP
A Hertz store is closed during the coronavirus pandemic.
In approving the plan, Walrath described the outcome as fantastic, saying it surpassed any result that I ve seen in any Chapter 11 case that I ve faced in my 20-plus years. ....

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Hertz car rental? Company emerged from Chapter 11 bankruptcy

When the economy began to show signs of recovery earlier this year, we were perfectly positioned to drive a competitive process that would maximize recoveries. The result paying our nearly $19 billion of creditors in full and returning substantial value to our shareholders is remarkable, Keizer said.
In tandem with its financial restructuring, Hertz said it has undertaken a series of operational steps to create a more focused and profitable enterprise. That includes slashing costs and right-sizing its fleet.
Another important move in bankruptcy? Hertz sold its Donlen fleet leasing business for $891 million in cash.
Looking ahead, Hertz said it s on track for strong financial results in 2021, in large part due to a sharp increase in car rentals in the United States, driven by a decline in new COVID cases and rise in vaccinations nationally that has fueled more travel. ....

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