Possible Hertz bankruptcy could affect SW Florida

By Samone Blair
Medill Reports

Hertz, the rental-car company based in Estero, Florida, is in financial trouble amid the coronavirus pandemic. The SEC has given Hertz until Friday to restructure its debt.

According to Village of Estero Mayor Bill Ribble, Southwest Florida would miss the business, if it were to go out of business. Not only would Floridians working at the corporate campus be out of a job, but hundreds of homes would go on the market, partnerships with nearby Florida Gulf Coast University would end, and the local area would no longer benefit from the company’s altruism.

“They’ve been a part of a lot of the projects we’ve had in the area,” Ribble said. “Habitat for Humanity, they’re a big driver for the United Way, and certainly that’d be a loss for the non-profits.”

Update 5/24: Hertz filed for bankruptcy Friday evening. Hertz joins several other companies that have filed bankruptcy during the coronavirus pandemic, including J.Crew, JCPenney, Gold’s Gym and Neiman Marcus.

Photo at top: Flags fly at Hertz Global’s headquarters in Estero, Florida. (Samone Blair/MEDILL)