Hertz (HTZ, $4.19) might be preparing for bankruptcy filing

Hertz Global Holdings  is reportedly preparing for a potential bankruptcy filing.

The vehicle rental company  was unable to make lease payments due to the coronavirus-induced a shutdown, according to  The Wall Street Journal .Citing people familiar with the matter, WSJ reported that Hertz is in talks with lenders on a forbearance agreement to waive a default and to potentially avoid bankruptcy.

In a regulatory filing , Hertz mentioned that it had not made certain operating lease payments and it could be materially impacted if the payments are not made by the end of a grace period on May 4, and an adequate  number of creditors don’t agree to waive any default by the end of the grace period.

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Sergey Savastiouk|Expert

Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.