Hertz Global Holdings Inc. is in talks to obtain a bankruptcy loan to fund its business reorganization after scrapping a controversial sale of potentially worthless stock, according to people familiar with the matter.
The rental-car company on Wednesday called off a potentially unprecedented sale of up to $500 million in shares, leaving it in need of an alternative source of financing to keep its business afloat through its chapter 11 restructuring. Bankruptcy is expensive, and Hertz was counting on raising capital from speculative…
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