Car rental giant & pioneer HERTZ files for bankruptcy protection as Covid-19 dries up businesses ...United Arab Emirates

Russia Today - Economy
Car rental giant & pioneer HERTZ files for bankruptcy protection as Covid-19 dries up businesses
source : Russia Today ( United Arab Emirates ) () 70
Hertz, one of the world’s largest vehicle-rental companies, has sought bankruptcy protection after business nosedived as a result of the Covid-19 pandemic severely impacting demand. Corporations worldwide have struggled to stay afloat during the health crisis. The company announced on Friday that it had filed for bankruptcy protection in the United States while it restructures its debts. The car rental service will continue its global operations, which span from the US to New Zealand.  Explaining the decision, Hertz said in a press release that “the impact of Covid-19 on travel demand was sudden and dramatic, causing an abrupt decline

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