Car rental giant officially exits bankruptcy with one question: will it survive long-term?

Hertz leaves bankruptcy with about $5 billion in debt gone, with a $2.8 billion credit line and $7 billion in financing for its vehicle inventory

By Business Observer Staff
| 5:05 p.m. June 30, 2021
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Charlotte–Lee–Collier

ESTERO—The Hertz Corp. exited bankruptcy Wednesday June 30 with $5.9 billion in capital, its debt load reduced by 80%, a new ticker symbol and a new board of directors that includes the former president and CEO of the Ford Motor Co.

The June 30 exit comes just over 13 months after the Lee County-based rent-a-car giant filed Chapter 11 to fight off creditors it was unable to pay because of a downturn caused by the pandemic.