Hertz, one of the largest car rental companies in the world, has come to the brink of bankruptcy because it has not been able to pay the rent of car fleets for a while. According to the allegations, the company started to meet with some brands in order to stretch this payment process.
Hertz, who is said to have started collective layoffs, has to solve this problem by 4 May, to minimize expenses for several weeks. It is said that the assets can be seized if they cannot reach an agreement with the fleet owners or cannot pay their debts.
Herz CEO Kathryn Marinello has stated that they do not want to withdraw the bankruptcy flag by protecting the cash held by the company. In addition, Marinello is claimed to have met with the U.S. Treasury Department and requested an aid package for rental companies.
One of the World's Largest Car Rental Companies, Hertz, is said to have a $ 17 billion debt. In addition, the Firm has already dismissed 10.000 employees in North America.