Hertz seeks court approval to sell Nebraska assets to franchisee

By Sarah Lizee

Olympia, Wash., March 29 – Hertz Global Holdings, Inc. is seeking court approval to sell some assets in connection with the divesture of its Nebraska operations, according to a motion filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

The contemplated divestiture entails the debtors divesting one airport location, four fixed base operator rental locations and six off-airport locations including one body shop.

The purchaser is Auto Rental Services, a long-time franchisee of the debtors.

The transaction will result in a $4 million cash payment to the debtors in three installments, the purchase of the fleet associated with the locations at market rates and the purchase of real estate, facilities and equipment at the locations at net book value.

A hearing is scheduled for April 16.

Hertz is an Estero, Fla.-based car rental company. It filed Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware on May 22, 2020. The case number is 20-11218.

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