- Hertz declared bankruptcy on May 22, carrying $US19 billion in debt.
- The iconic car rental company told its landlords days before that it would not pay them rent for the next six months, according to a letter reviewed by Business Insider.
- Its the latest example of a big-name corporation asking building owners, many of whom run small businesses, for help.
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Property owners who lease to Hertz received unwelcome news on May 19: Dont expect rent from us for the next six months.
In a letter reviewed by Business Insider, Hertz wrote that it will be deferring all Base Rent payments for six months. Additional rent and utilities payments will still be paid.
The notice came several days before…
Read the full article at: https://www.businessinsider.com/hertz-bankruptcy-wont-pay-rent-six-months-landlords-rental-cars-2020-5