Hertz, one of the world’s largest car rental companies, filed for bankruptcy. It was struggling with debt before the pandemic devastated its business.
Friday, May 22, 2020 10:14 PM EST
The pandemic dealt the company what it has described as “a rapid, sudden and dramatic” blow. Sales dried up in March as much of the world started to shelter at home. Airports, where Hertz and its competitor Avis Budget Group earn most of their revenue, turned into ghost towns.