With the prediction of running out of cash by September, I’m curious if Hertz will convert to Chapter 7? I can’t see anyone coming to the rescue or Hertz securing a DIP loan with so much debt.
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Fleet costs and wages are the top expenses Hertz has. They have offloaded a good amount of real estate so facility costs although a lot not a huge impact. They will be out of money in a few months. Any vendors still allowing Hertz credit is nuts! Get paid COD for everything or you will get screwed.
$100M isn't all that crazy of a number. Rent, electricity, vehicle maintenance, wages, benefits, paper, phones, etc.
I read the article. I am shocked this company spends $100M a week just on company expenses. Where can all that money be possibly going?? CEO salary? Kathy M. as a "consultant" ? What a joke. I LOOK FORWARD TO SEPTEMBER.