Hertz said he was in bankruptcy in Canada and the United States

Hertz se déclare en faillite au Canada et aux États-Unis

Photo: Diane Bondareff Associated Press for Hertz
On 21 April, Hertz had deleted 10,000 jobs in North America, or 26.3% of its global workforce, to save costs in the face of the uncertainties caused by the pandemic coronavirus crippling the economy.

The car renter Hertz, which was severely affected by the impact of the pandemic coronavirus, announced on Friday evening will be placed under the u.s. system of bankruptcy, procedure for its operations in the United States and Canada.

“The impact of the COVID-19 on the travel demand has been sudden and dramatic, resulting in a sharp drop in the company’s revenues and future bookings,” explains the group in a press release.

Hertz indicated that it took “immediate action” giving priority to the health and safety of employees as well as customers. It has also eliminated ” all non-essential spending “.

“However, uncertainty remains with regard to the return of income and the reopening of the complete market […] which need action today,” he adds.

The main operational regions international of Hertz, including Europe, Australia and New Zealand, are not included in this procedure of the american chapter 11.

On 21 April, Hertz had deleted 10,000 jobs in North America, or 26.3% of its global workforce, to save costs in the face of the uncertainties caused by the pandemic coronavirus crippling the economy.

The use of chapter 11 is a device that allows a business no longer repay its debt restructuring by creditors.

“The financial reorganization will provide Hertz a route towards a financial structure more robust, which will position the best society in the future,” commented Hertz.

The sites franchisees of Hertz, which do not belong to the company, are not included in the procedure of chapter 11.

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