Hertz Global Holdings, Inc. (bankruptcy)

Hertz Global Holdings, Inc. is a major car rental company that filed for bankruptcy in May 2020, largely due to financial struggles worsened by the COVID-19 pandemic. With many travel restrictions and decreased demand for rental cars, the company faced significant revenue loss. Bankruptcy allowed Hertz to reorganize its debts and business operations to improve its financial stability. Despite the challenges, Hertz continued to operate during the process, aiming to emerge stronger and more resilient in the competitive car rental industry.