Car Rental Services

Business • Economy
2020-05-23T06:25:20+00:00
Hertz files for bankruptcy
Hertz car rental office in Livonia, Michigan
Hertz car rental office in Livonia, Michigan Credit: Dwight Burdette / CC BY (Creative Commons Attribution 3.0)

Hertz, the car rental company operating 10,200 corporate and franchisee locations all over the world, has filed for bankruptcy protection, excluding operations in Europe, New Zealand and Australia. Amid the Covid-19 pandemic, the company saw a sharp decrease in rentals and was not able to continue to pay its lenders. A company spokesperson said they would use over $1 billion in cash on hand to continue running its business during the bankruptcy process.