Jack Pitcher and David Welch

Government, Business

Hertz Files for Bankruptcy After Rental Car Demand Vanishes

Signage is displayed outside of a Hertz rental location at Los Angeles International Airport (LAX) in Los Angeles in August 2019. Signage is displayed outside of a Hertz rental location at Los Angeles International Airport (LAX) in Los Angeles in August 2019. (Martina Albertazzi/Bloomberg News)

Hertz Global Holdings Inc., the rental car company founded with a dozen Ford Model Ts more than a century ago, filed for bankruptcy late May 22 after sweeping travel restrictions and the global economic collapse destroyed demand for its vehicles.

Jack Pitcher and David Welch | Bloomberg News
May 26, 2020