Tag Archives: bankruptcy

Hertz, J.C. Penney, J. Crew, Neiman Marcus, Gold’s Gym, Pier 1 and the McClatchy newspaper chain Files For Bankruptcy

Hertz Files For Bankruptcy

Companies that have all sought bankruptcy protection in recent weeks. Hertz was just another victim of the pandemic, people will say. It’s easy to blame the company’s misfortunes, as well as the other corporate casualties, on the pandemic. The reality is a different story.

Hertz faced tough competition in the car-rental space, and also impact from e-hailing service Uber & Lyft. People preferred to use e-hailing services compare to rent a car and have to drive it themselves in an unfamiliar location. Drive a car by ourself is really a stressful way of travel, I done it, I knew it.

The failures of Hertz and the others have more to do with their own arrogant inertia and inability to recognize the fast-changing trends and a refusal to adapt their business models accordingly. Hertz has lost money for the past four consecutive years, including $58 million in 2019.

Thai Airways’ debt trouble Restructuring Plan, Thailand’s Cabinet had approved

Thai Airways headed for bankruptcy protection

Thai Airways is facing losses since 2013 (except 2016), and In 2019, it reported losses of 12.04 billion baht. Now in the Pandemic Covid-19, the company facing even more trouble when most of their capacity as air travel being grounded. It had been in trouble even before the outbreak of the coronavirus due to stiff competition from budget airlines. Continue reading

Thai Airways headed for bankruptcy protection

Thai Airways headed for bankruptcy protection

Pandemic Covid-19 had grounded almost 95% of their capacity as air travel around the world, and this really cause a huge impact to all Airline Company, no matter national airline or private airline company.

Now we learned about Thai Airways news. The company is facing losses since 2013 (except 2016), and In 2019, it reported losses of 12.04 billion baht. Now in the Pandemic Covid-19, the company facing even more trouble when most of their capacity as air travel being grounded.

Now, Thai Airways and Thailand Government are working to solve this situation.