Rental car company Hertz has filed for bankruptcy, unable to withstand the COVID-19 pandemic that has crippled global travel
Rental car company Hertz has filed for bankruptcy, unable to withstand the COVID-19 pandemic that has crippled global travel
23 May 2020
The Florida-based company's lenders were unwilling to grant it another extension on its auto lease debt payments past a Friday deadline, triggering the filing in US Bankruptcy Court.
Starting in mid-March, the company lost all revenue when travel shut down because of the pandemic, and it started missing payments in April.
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