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Coronavirus effect: Hertz files for bankruptcy protection as car rental business feels the heat

Shortpedia

Content Team

Over a century old car rental firm Hertz Global Holdings Inc filed for bankruptcy protection on Friday after its business all but vanished during the coronavirus pandemic and talks with creditors failed to result in needed relief. Hertz's international operating regions including Europe, Australia and New Zealand were not included in the US proceedings. A large portion of Hertz's revenue comes from car rentals at airports.