With sales dropping due to consumers avoiding travel at a time like this, Hertz Global Holdings Inc., a rental car company, is still required to make monthly payments under their operating lease. It has been reported that the company and its representatives are arranging to temporarily reduce those payments.
The company has requested to get an agreement in place to avoid potentially having to file for bankruptcy. If enough lenders vote against the request, the company will be significantly impacted and will leave them with no other choice but to follow through with the bankruptcy filings.
Are you struggling financially due to the coronavirus? Let us help! Contact our office at 816-524-4949 or you can visit our website at hoorfarlaw.com to schedule an appointment.