Hertz temporarily closed its car sales locations nationwide as of Thursday, Oct. 22.
“As part of our Chapter 11 process, Hertz has been working to right-size our fleet to align with current demand and meet the requirements of our lenders. Hertz has recently met its target to sell approximately 180,000 vehicles, and as a result, is pausing the car sales program including temporarily closing retail locations. Hertz has maintained the licenses for these locations and will evaluate its car sales program as it replenishes its fleet with new vehicles in 2021,” Hertz said in a statement to Gulfshore Business.
As Gulfshore Business reported on Oct. 19, Hertz Global Holdings Inc. has secured commitments for debtor-in-possession (DIP) financing totaling $1.65 billion and has filed a motion for approval of the financing by the U.S. Bankruptcy Court for the District of Delaware. The proposed DIP financing will support the company as it moves through the next stage of its Chapter 11 process.
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