Https://ordonews.com/hertz-global-wants-to-reorganize-as-part-of-bankruptcy-proceedings/
The financial struggles of Hertz Global Holdings, a major player in the global car rental market, have led to its decision to file for bankruptcy and reorganize as part of the process. This move is expected to have significant implications for the company's employees, customers, and shareholders.
As part of its bankruptcy proceedings, Hertz has been working with creditors and other stakeholders to develop a restructuring plan that would allow the company to continue operating while reducing its debt burden. The plan includes a series of steps aimed at improving the company's financial health, including asset sales, cost-cutting measures, and changes to its business model.
The restructuring process is expected to take several years, during which time Hertz will continue to operate under a temporary structure until it emerges from bankruptcy with a more stable financial foundation. This could potentially pave the way for a new ownership structure or a return to profitability for the company.
The outcome of this process will be closely watched by investors and creditors alike, who are eager to see how Hertz Global Holdings will emerge stronger from its bankruptcy proceedings. As the situation continues to unfold, it remains to be seen whether the company will be able to reorganize and return to profitability, or if it will be forced into liquidation.
https://ordonews.com/hertz-global-wants-to-reorganize-as-part-of-bankruptcy-proceedings/