Virus-hit Hertz declares bankruptcy in US and Canada

Hertz is reported to have debts of roughly US$19 billion, in addition to nearly 700,000 vehicles sitting idle because of the coronavirus. – EPA pic, May 23, 2020.

GLOBAL car rental company Hertz became the latest economic casualty of the coronavirus pandemic yesterday, filing for bankruptcy in the US and Canada after more than a century in business.

“The impact of Covid-19 on travel demand was sudden and dramatic, causing an abrupt decline in the Company’s revenue and future bookings,” Hertz said in a press release.

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