Saturday, May 23, 2020

BREAKING: Hertz Has Filed for Bankruptcy

Hertz, which started with a fleet of a dozen Ford Model T’s a century ago and became one of the world’s largest car rental companies, filed for bankruptcy protection on Friday, reports The New York Times.

The car rental business has collapsed under the lockdowns and the related severe decline in travel.

Hertz had major debt of around $17 billion but was managing the debt until the COVID-19 panic.

It is expected that the company will continue operations during the bankruptcy process.


1 comment:

  1. Haven't got much sympathy for the Car-rental agencies, one of the last American industries that still hates its customers.