Car rental giant Hertz files for Chapter 11 bankruptcy protection, pushed by debt and coronavirus pandemic
Hertz filed for bankruptcy protection Friday, unable to withstand the coronavirus pandemic that has crippled global travel and with it, the heavily indebted 102-year-old car rental company’s business.
Starting in mid-March, the company – whose car-rental bands also include Dollar and Thrifty – lost all revenue when travel shut down due to the novel coronavirus, and it started missing payments in April. Hertz has also been plagued by management upheaval, naming its fourth CEO in six years on May 18.
An 11-time All-Star as a player with the New York Knicks, Ewing transitioned to coaching in 2002, serving as an assistant with several NBA teams before accepting the head coaching job at Georgetown before the 2017-18 season.More than one-fourth of Nevada’s workers don’t have jobs after the state’s unemployment rate hit 28.2% in April – the highest rate in the U.S. and the worst joblessness showing in Nevada history.
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