Hertz of Seward stated in a press release on Monday they are operating normally despite the filing for Chapter 11 bankruptcy protection by Hertz Global Holdings, the owner of the Hertz brand.
“Alaska Transportation Company, LLC (dba Hertz of Seward) is based in Seward, Alaska. It is an independently owned Alaska business, and operates as a Hertz brand licensee,” said the company in the release.
Tom Tougas, owner of Alaska Transportation Co, LLC said “In light of the recent announcement made by Hertz Global Holdings Inc. that it has filed Chapter 11 bankruptcy, we feel that it is necessary to let our customers and fellow Alaskans know that Alaska Transportation Company, LLC operates independently and is financially sound.”
In an interesting move on Monday, investors gobbled up Hertz Global Holdings stock according to investment publications, wiping out the losses sustained by the company due to the COVID-19 pandemic.
Carole Tallman, manager of the local Hertz operation, said by phone on Monday that business was off this year, but the company was continuing to operate and rent cars on a regular basis. She did say the company cancelled its order for new cars this year and is reducing the inventory on the lot.
Tougas said that despite the lack of tourism this year, the local company is still strong.
“As a company that relies on the Alaska visitor market, specifically cruise passengers, we are experiencing severe negative economic impacts related to the Coronavirus for the 2020 season. Nonetheless, our company remains stable and has made adjustments in order to continue serving our customers into the foreseeable future.”
Hertz of Seward is located at 600 Port Avenue.