Hertz over heads? Sputtering car co asks investors to go half a yard more

Aidan Gregory

June 15, 2020 03:00 pm

Hertz_PA_575_375 — Hertz filed for bankruptcy in the US Car rental company Hertz was struck by the corona crisis after 102 years. Hertz has voluntarily filed for bankruptcy in the United States, the so-called Chapter 11 protection against creditors. The company also wants to lay off 12,000 employees. Amsterdam, Netherlands on May 27, 2020. Photo by Robin Utrecht/ABACAPRESS.COM | Utrecht Robin/ABACAPRESS.COM/ABACA/PA Images

Hertz, the US car hire company in Chapter 11 protection, is to offer up to $500m of new stock after receiving approval last week from a bankruptcy court to raise equity, according to a filing with the Securities and Exchange Commission on Monday.

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Aidan Gregory