Hertz, Dollar & Thrifty will continue operating, paying new bills after Chapter 11 bankruptcy

Car rental giant Hertz Global Holdings announced it and multiple subsidiaries had filed for Chapter 11 bankruptcy protection, but the company would remain open and be able to pay new vendors.

“Hertz has over a century of industry leadership and we entered 2020 with strong revenue and earnings momentum,” Hertz CEO Paul Stone said in a statement Friday. “With the severity of the COVID-19 impact on our business, and the uncertainty of when travel and the economy will rebound, we need to take further steps to weather a potentially prolonged recovery. Today’s action will protect the value of our business, allow us to continue our operations and serve our customers, and provide the time to put in place a new, stronger financial foundation to move successfully through this pandemic and to better position us for the future. Our loyal customers have made us one of the world’s most iconic and well known brands, and we look forward to serving them now and on their future journeys.”

“All of Hertz’s businesses globally, including its Hertz, Dollar, Thrifty, Firefly, Hertz Car Sales, and Donlen subsidiaries, are open and serving customers,” the rental company wrote in a news release Friday. “All reservations, promotional offers, vouchers, and customer and loyalty programs, including rewards points, are expected to continue as usual. Customers can count on the same high level of service and reliability, including new initiatives such as ‘Hertz Gold Standard Clean’ sanitization protocols to provide additional safety in response to the COVID-19 pandemic.”

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