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Investing.com – Rental car company Hertz Global Holdings (NYSE:HTZ) is looking into a possible bankruptcy filing due to the slowdown in business from the Covid-19 pandemic after missing a lease payment, The Wall Street Journal reported Wednesday.
Shares fell nearly 15% in morning trading before was halted.
Hertz is negotiating with lenders to reduce payments after missing the lease payment in an effort to preserve cash, the Journal reported.
The situation is fluid and the company is looking for an agreement with lenders to waive default to avoid bankruptcy, the paper said, citing people familiar with the matter.
