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Hertz (NYSE:HTZ) is at loggerheads with a key group of creditors before a deadline today to cut a deal over missed debt payments, Bloomberg reports.
The car rental company is running out of time to either extend a forbearance agreement or make around $400M of lease payments, and if no deal is reached, Hertz may need to seek bankruptcy protection.
There's also a chance top shareholder Carl Icahn could swoop in at the last-minute to protect a $1.6B investment, now worth about $170M.
(SA)
Hertz Global (NYSE:HTZ) has failed to get lenders to go along with its proposal to postpone ~$500M owed for the declining value of used cars, according to New York Post.
The Post tips that Hertz is days away from a bankruptcy filing.
Shares of Hertz are down 1.64% premarket to $3.02.