May 25, 2020
On Friday, the Hertz Corporation filed for bankruptcy protection.
The company rents and leases cars and trucks in the United States and internationally. The effect of the COVID-19 was so dramatic for the travel industry that it led to a sharp deterioration in the company’s revenue and future bookings. 12,000 of the company's employees in North America have lost their jobs, 4,000 are on furloughs.
Hertz plans to stay in business during the process of restructuring.
Company — Hertz
Full nameThe Hertz Corporation