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ITVCar hire firm Hertz files for bankruptcy amid coronavirus pandemic
Car rental company Hertz has filed for bankruptcy due to debt and the crippling of global travel by the coronavirus pandemic, according to court documents.
The firm, which has more than 400 outlets across the UK▸ and Ireland, was 18.7 billion US dollars (£15.3 billion) in debt at the end of March with only 1 billion dollars (£820 million) of available cash.
It was recently forced to cut 12,000 people from its global workforce and put another 4,000 on furlough, but the measures came too late to save the 102-year-old business.