Virus-hit Hertz declares bankruptcy in US and Canada

Established in 1918 with only a dozen cars, the global car rental giant had survived the Great Depression and numerous American recessions.

Global car rental company Hertz became the latest economic casualty of the coronavirus pandemic Friday, filing for bankruptcy in the US and Canada after more than a century in business.

"The impact of COVID-19 on travel demand was sudden and dramatic, causing an abrupt decline in the Company's revenue and future bookings," Hertz said in a press release.