Hertz Files For Bankruptcy As Lockdowns Crush Rental Car Industry
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What one world war, one Great Depression and numerous oil price shocks couldn't do, the coronavirus did in less than three months and late on Friday, auto rental giant Hertz which was founded in 1918 when it set up shop with a dozen Ford Model Ts, quietly filHertz Files For Bankruptcy As Lockdowns Crush Rental Car Industry
What one world war, one Great Depression and numerous oil price shocks couldn't do, the coronavirus did in less than three months and late on Friday, auto rental giant Hertz which was founded in 1918 when it set up shop with a dozen Ford Model Ts, quietly filed for Chapter 11 bankruptcy protection struggling under a massive debt load after its business was brought to a grinding halt during the coronavirus pandemic and talks with creditors failed to result in much needed relief. Read more