HERTZ DIDN'T FAIL BECAUSE OF CORONAVIRUS
After more than 100 Hertz has filed for Chapter 11 Bankruptcy protection… What does it means and a company so big is the first car rental to go bankrupt?
It would be easy to say that it’s all coronavirus fault but it isn’t just that, of course the outbreak fast-forwarded incredibly the process, but troubles started years ago for Hertz.
The biggest problem for the company was losing its BRAND IDENTITY.
After disruptive competitors like Uber and Zipcar came to town Hertz has started losing its place in the world, it was too expensive to be cheap but at the same, its service isn’t so great to be considered elite.
The company was facing a series of hardships for years but coronavirus gave it the final blow.
Just a quick and important note, chapter 11 of Bankruptcy doesn’t mean that the company will stop to exist, indeed operations will go on and investors will work to find a way to keep the company alive.
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