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Below is a report that DML News gives a 4 OUT OF 4 STARS trustworthiness rating. We base this rating on the following criteria:

  • Provides named sources
  • Reported by more than one notable outlet
  • Does not insert opinion or leading words
  • Includes supporting video, direct statements, or photos

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As the most reliable and balanced news aggregation service on the internet, DML News App offers the following information published by TheHill.com:

Hertz filed for Chapter 11 bankruptcy amid rising debt and a sharp drop in demand for rental cars during the coronavirus pandemic.

The company is the latest travel-related business to fall victim to the coronavirus, which has grounded travelers and tourists and led to a sharp drop in revenue.

The article goes on to state the following:

“The impact of COVID-19 on travel demand was sudden and dramatic, causing an abrupt decline in the Company’s revenue and future bookings,” the company said in a statement. “Hertz took immediate actions to prioritize the health and safety of employees and customers, eliminate all non-essential spending and preserve liquidity.

“However, uncertainty remains as to when revenue will return and when the used-car market will fully re-open for sales, which necessitated today’s action,” it continued.

To get more information about this article, please visit TheHill.com.

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