isApp : false, htz.faq = { Car rental company Hertz has filed for bankruptcy after travel came to a standstill during the coronavirus pandemic. Under a Chapter 11 restructuring, creditors will have to settle for less than full repayment, but the company is likely to continue operating. }; Hertz, the country's leading car rental company, has officially filed for Chapter 11 court protection as it devises a plan to pay off debts. hasError : false, }; We kindly ask that you rebook the rental within 12 months, and you then have a further 12 months to collect the vehicle – this offers you a total of 24 months flexibility to rent later. View our online Press Pack. pos: 'GB', In a note to investors in late April, financial analyst Hamzah Mazari predicted that rival Avis would survive the coronavirus crisis but Hertz had only a 50-50 chance "given it was slower to cut costs.". htz.localLoyaltyLogo = { We remain vigilant in upholding these practices and will take additional precautions as recommended by the. Hertz had announced April 14 that it would cut about 10,000 jobs. To see all content on The Sun, please use the Site Map. Are you cleaning your cars any differently? The firm closed most of its branches in the UK and … The virus' spread has leaded to several measures within the country such as the closing of restaurants, specialty shops and other public facilities. What happens if I am required to self-isolate or I am quarantined and cannot return a vehicle? text: '', htz.template = { Hertz isn't the first struggling company to be pushed into bankruptcy by the coronavirus crisis. Around the world, we have enhanced our cleaning methods at our locations and our shuttle buses including using approved disinfectant to regularly wipe down high-touch areas such as door handles, counters, kiosks and other hard surfaces. What about rentals reserved using Gold Plus Rewards points? Two months ago, when Hertz announced furloughs, Marinello said she would give up 100% of her base salary. }; "No business is built for zero revenue," former CEO Kathryn Marinello said on the company's first-quarter earnings conference call May 12. It is our mission to maintain the high standards for safety and cleanliness that customers expect of our brands. customizedLocation : false, htz.browser = { htz.commConfig = { A Hertz spokesman told Sky News the bankruptcy claim … [CDATA[ targetPage: 'coronavirus_travel_safety_tips.xml', Is there a list of your locations that are currently affected by travel restrictions? var htz = htz || {}; The coronavirus pandemic has decimated the rental car business, which also hurts automakers. The Sun website is regulated by the Independent Press Standards Organisation (IPSO), Our journalists strive for accuracy but on occasion we make mistakes. The extra time provides a breathing space to the rental car provider as it tackles the collapse of its business in the face of the coronavirus pandemic. In addition to practicing preventative measures to reduce the spread of germs within our facilities, all our vehicles go through a rigorous, multi-step cleaning process for each rental. 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