Hertz car hire company files for bankruptcy amid coronavirus pandemic

The Independent | May 23, 2020 at 10:51 AM
  • Hertz, the 102-year-old car rental company, has filed for bankruptcy as the coronavirus pandemic caused business to nose-dive.
  • At the end of March, the firm was $18.7 billion (£15.3 billion) in debt with only $1 billion (£820 million) of available cash.
  • Much of the firm’s income is sourced from car rentals at airports but it started missing debt payments in April.