Tag: hertz car co
Car rental firm Hertz files for bankruptcy, falling prey to debt of $17 billion
Iconic car rental company Hertz has filed for bankruptcy protection, devastated by the fall in business due to the coronavirus pandemic. The 100-year-old company which started its business with a dozen Ford models, went on to become one of the largest car rental companies in the world, before running up a pile of substantial debt. Hertz said late on Friday that it would use more than $1 billion in cash on hand to keep its business running while it proceeds with the bankruptcy process. “Today’s action will protect the value of our business, allow us to continue our operations and ... Read more