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Hertz has filed for bankruptcy
in the US after falling rentals. The world's second
car rental company is a household
. It has 10,200 franchises on six
. It is one of the highest-profile companies to file for bankruptcy during COVID-19. It has furloughed or laid off over 20,000 of its workers (about half of its global
) as rentals have dried up. It said: "The
of the pandemic on travel
was sudden and
, causing an abrupt decline in the company's
and future bookings." Hertz has over $18 billion of
on its books.
