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Hertz on track to exit bankruptcy protection this month

A bankruptcy court has confirmed Hertz’s reorganization plan, which helps clear the way for the car rental company to emerge from Chapter 11 bankruptcy protection by the end of the month. The Florida company, which filed for bankruptcy protection in May 2020, said Thursday that its plan will get rid of more than $5 billion in debt and provide more than $2.2 billion of global liquidity to the reorganized company. Hertz was among the first major corporations to be felled by the pandemic last year as infections surged and shut down travel on a global scale for both companies and vacationers.

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Associated Press

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