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Is this really a result of COVID-19, or is it just a convenient scapegoat?


New York(CNN Business)Hertz filed for bankruptcy Friday night, the latest victim of the sudden economic downturn sparked by the Covid-19 pandemic.

The company has been renting cars since 1918, when it set up shop with a dozen Ford Model Ts, and has survived the Great Depression, the virtual halt of US auto production during World War II and numerous oil price shocks. By declaring bankruptcy, Hertz says it intends to stay in business while restructuring its debts and emerging a financially healthier company
61-69, M
1
11 replies
16 views
3 days ago
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tj78610 · 46-50, M
Seems a bit quick, yes.
JoePourMan · 61-69, M
[@662526,tj78610] That's what I thought
Pavona · 22-25, M
People are going out far less, so car usage is way down around the world. I think all car hire companies are going to be in some sort of financial difficulty as a result. However, it's possible that Hertz was already in financial difficulties, which meant that COVID-19 has pushed it over the edge.
JoePourMan · 61-69, M
[@1094549,Pavona] Yes I believe they have been struggling for some time.
They’ll make a come back. Maybe they can use OJ as their spokesman again. I mean come on, enough time has passed...forgive and forget eh?
JoePourMan · 61-69, M
[@573853,DukeOfEarle] come back possible
OJ as spokes person, never
😆[@1097981,JoePourMan]
They've been going downhill for long time now. I think they are just using this as a excuse because they don't want to admit failure.
JoePourMan · 61-69, M
[@436765,Fallenfromgrace] I agree
Quimliqer · 61-69, M
Hertz has divested into many businesses like equipment rentals for one, and has been in financial trouble for some time now. Hope they can get back to the basics and survive this,,
JoePourMan · 61-69, M
[@397227,Quimliqer] me too

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