Hertz Reports ‘Going Concern’ Doubts Amid Swifter Cash Burn (2)

Hertz Global Holdings Inc. cast doubt on its ability to pay debt obligations and continue as a going concern, putting fresh pressure on the rental-car company’s depressed shares.

The company, which has been working with its lenders to stay out of bankruptcy, said it may not have enough cash on hand to pay them amid dim prospects for a rapid recovery in its travel-dependent business.

“Management has concluded there is substantial doubt regarding the company’s ability to continue as a going concern within one year,” Hertz said in a regulatory filing Monday.

Hertz also said its first-quarter loss was $1.78 ...