Hertz Files for Bankruptcy Protection Due to Coronavirus

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outside of a free-standing Hertz location

Due to the sudden economic downturn caused by the coronavirus pandemic, Hertz recently announced that it filed for bankruptcy. The company was financially strong and growing prior to the COVID-19 pandemic, but the sudden decline in travel caused a dramatic reduction in the company’s revenue and future bookings.

By declaring bankruptcy, Hertz intends to continue operations while restructuring its debts and emerging in better financial health. Hertz President and CEO Paul Stone said in a statement,

Hertz has over a century of industry leadership and we entered 2020 with strong revenue and earnings momentum. With the severity of the COVID-19 impact on our business, and the uncertainty of when travel and the economy will rebound, we need to take further steps to weather a potentially prolonged recovery.

red Hertz rental car

All of Hertz’s businesses including Dollar, Thrifty, Firefly, Hertz Car Sales, and Donlen subsidiaries will continue serving customers during the company’s bankruptcy proceedings.

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Hertz’s reservations, promotional offers, vouchers, and customer loyalty programs are expected to be unaffected.

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Comments 11

  1. Cherryluva

    Anyone ever purchased a vehicle from them or avis?

    • Amy L.

      We’ve purchased 3 vehicles from Enterprise. Great service! We prefer using them for our rentals too.

    • zina

      we purchased 2 from hertz sales this year- very pleased

      • Jennifer Huertas

        how do you go about buying one?

    • ET

      We purchased a car from Avis last year. They let us take the car to our mechanic to check out before purchasing.

  2. Jennifer

    Wondering the same thing? How do you start???

    • zina

      they have hertz for sale site- you can rent to buy for 3 days to test drive the car- and if you decide to keep it you just follow up on the site and finish the process. the rental fee is waived if you buy the car.

  3. nicolecoleman

    I love hertz!! I only rent from them, their company is so easy to work with this is terrible news

  4. adam

    Leary about buying a rental car because EVERYONE seems to abuse rental cars when renting. Do you want that car s your car? Not me….

  5. Jennifer

    So you find them giving you a good deal on the cars?

  6. CTRJ

    Our local Toyota dealership had Enterprise cars for sale. They came with a nice warranty and a lot of them had very low mileage.

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