Car rental company Hertz files for bankruptcy

May 26, 2020 Facebook Twitter LinkedIn Google+ Brands On The Move


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HertzThe coronavirus has claimed another business, Hertz [TCO] or Hertz Global Holdings Inc has filed for bankruptcy protection as their business has suffered due to the global pandemic,  talks with creditors failed to result in much needed relief.

Hertz’s board has approved the company seeking Chapter 11 protection in a U.S. bankruptcy court in Delaware, according to court records.

The company has nearly $19 billion of debt and roughly 38,000 employees worldwide as of the end of 2019. Just days ago the company appointed Paul Stone as their new Chief Executive Officer.

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