Hertz files for bankruptcy

Hertz files for bankruptcy
# 23 May 2020 16:22 (UTC +04:00)

Hertz Global Holdings Inc. filed for Chapter 11 bankruptcy in Wilmington, Delaware due to the reduced demand for rental-vehicles amid the COVID-19 pandemic, APA reports citing Teletrader.

The decision comes after the United States-based car-rental company failed to negotiate debt payment with its creditors.

When filing for bankruptcy protection, the company cited travel restrictions as the cause of its financial issues, however, the filing pertains to its operations in the US and Canada alone, and doesn't apply to any other international destination.

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THE OPERATION IS BEING PERFORMED