May 22, 2020
5:37 PM EDT
Last Updated
May 22, 2020
5:38 PM EDT
Hertz Global Holdings Inc is preparing to file for bankruptcy as soon as Friday night after failing to reach a standstill agreement with its top lenders, the Wall Street Journal reported https://on.wsj.com/2A4ONKs, citing people familiar with the matter.
The Estero, Florida-based company, which operates the Hertz, Dollar and Thrifty car-rental brands, had been holding talks with creditors after skipping significant car-lease payments due in April.
Forbearance and waiver agreements on the missed payments were set to expire on Friday. (Reporting by Arunima Kumar in Bengaluru; Editing by Aditya Soni)