The car rental company Hertz, hard hit by the global coronavirus pandemic, has filed for bankruptcy in the United States and Canada, it announced Friday.
“The impact of Covid-19 on travel demand was sudden and dramatic, causing an abrupt decline in the Company’s revenue and future bookings,” Hertz said in a press release.
“However, uncertainty remains as to when revenue will return and when the used-car market will fully re-open for sales, which necessitated today’s action,” it said. Hertz had cut 10,000 jobs in North America, or 26.3 percent of its global workforce, by April 21 to save money after the coronavirus shutdowns paralysed travel and crippled the economy.
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