Car rental company Hertz files for U.S. bankruptcy protection

The car rental company Hertz Global Holdings Inc filed for bankruptcy protection on Friday in Delaware, U.S., according to local media reports.

Due to the coronavirus pandemic, the demand for car rentals has vanished and Hertz's business was decimated.

The New York Times reported that Hertz would use approximately one billion U.S. dollars in cash on hand to keep its business running while it proceeds with the bankruptcy process.

(Cover: VCG file photo)