Hertz Global Holdings (HTZ) late on Friday filed for bankruptcy protection after the car rental firm failed to reach long-term agreements with creditors as it grapples with the financial fallout induced by the coronavirus pandemic.The news sent shares down 36% to $1.82 in extended U.S. trading on Friday. The company, whose largest shareholder is billionaire investor Carl Icahn with an almost 39% stake, said that the lockdown orders tied to the virus pandemic fueled an increase in car rental cancellations and a decline in future bookings.Hertz said it had more than $1 billion in cash on hand to support its …read more
Source:: Yahoo Finance
