1 week Hertz declares bankruptcy in US, Canada Manilatimes |Biz
WASHINGTON, D.C.: Global car rental company Hertz became the latest economic casualty of the coronavirus disease 2019 (Covid-19) pandemic on Friday (Saturday in Manila), filing for bankruptcy in the United States and Canada after more than a century in business. “The impact of Covid-19 on travel demand was sudden and dramatic, causing an abrupt decline in the company’s revenue and future bookings,” Hertz said in a statement. It took “immediate action” to prioritize the health and safety of employees and customers and eliminate “all non-essential spending,” it added. “However, uncertainty remains as to when revenue will return and when the ... more