Hertz files for bankruptcy amid drop in demand | The Hill

Travel plans have been put on pause during Corona. However, one big travel business might not survive this pandemic. Rental car company Hertz filed for chapter 11 bankruptcy after the decline of demand for rental cars. The bankruptcy filing does exclude business outside of America, and shares in the company have dropped drastically.  According to the Hill, “The impact of COVID-19 on travel demand was sudden and dramatic, causing an abrupt decline in the Company’s revenue and future bookings,” the company said in a statement.”

Source: https://thehill.com/policy/finance/499279-hertz-files-for-bankruptcy-amid-drop-in-demand