Hertz Has To Sell 182,000 Cars By 2021 After Filing For Bankruptcy
Only a few months after filing for bankruptcy, Hertz is up against the clock with its new plan to stay afloat.
The company’s plan was put in place to appease lenders and maintain future business and will significantly impact inventory by unloading around 200,000 of the manufacturer’s total leased vehicles.
If you’re looking to get in on the deal, the 182,521 cars will be sold throughout the rest of the year. The plan has a deadline of December 31st, in order for the company to pay off an agreed $650 million in other lease-related debts. While the 182,521 is quite a jump from the original 144,000 cars Hertz was hoping to get rid of, it still will maintain a large enough fleet to operate a viable business when it comes out the other side of bankruptcy and the world is hopefully back in travel mode.
It’s not known yet which cars from the Hertz fleet will be sold.