Car rental firm Hertz has filed for Chapter 11 bankruptcy protection in the US, following "an abrupt decline in the Company's revenue and future bookings" as a result of the coronavirus crisis.
Global travel restrictions, and lockdowns in many cities and countries worldwide have decimated the car rental market in recent months, and Hertz said that "uncertainty remains as to when revenue will return and when the used-car market will fully re-open for sales".
