Car rental service Hertz declared bankruptcy

This company was founded in 1918 in Chicago.

One of the world’s most extensive car rental services – Hertz-announced the beginning of bankruptcy proceedings. The reason given is a drop in demand against the background of the coronavirus pandemic. The company’s management said that Hertz would continue to serve customers while the bankruptcy application is being processed.

Previously, Hertz was forced to sell part of its fleet, and in May, it decided to cut half of the company’s employees. According to the New York Times, the company’s total debt was $ 17 billion.

Hertz is one of the most extensive car rental services, with more than 10,000 rental locations in 150 countries. The company is also one of the oldest car rental services: Hertz was founded in 1918 in Chicago.