The petition extends to the company’s U.S. and Canadian operations.
With the coronavirus pandemic still at large, one of the many industries affected, apart from the automotive industry, is travel. Business and leisure travel during these times are both prohibited or limited, to say the least, in order to help curb the spread of the disease.
Because of this, car rental businesses, such as Hertz, are in trouble. In fact, the long-running car-rental company in the U.S. has reportedly been in a critical financial condition earlier this month, citing a 73 percent drop in shares over the past three months. Hertz celebrated its centenary in 2018.
Hertz has listed 22 of its Chevrolet Corvette C7 Z06 for sale
Before, Hertz was optimistic in its narrative that time, saying that the situation was fluid and filing for bankruptcy won’t be an option.