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The car rental company Hertz has filed for bankruptcy [detection / protection] in the US after plummeting rentals. Hertz is the world's second largest car rental company and is a [household / housing] name. It operates over 10,200 [franchises / friendships] in 150 countries on six [incontinence / continents] . It is one of the highest-profile companies to file for bankruptcy because of COVID-19. It had already [furrowed / furloughed] or laid off more than 20,000 of its employees as rentals dried [up / down] worldwide. This is about half of its [globally / global] workforce. It said: "The impact of the pandemic on travel demand was [sudden / suddenly] and dramatic, causing an abrupt decline in the company's revenue and future [books / bookings] ." Hertz had $18.8 billion of debt on its [magazines / books] as of March the 31st.

Hertz was [finding / founded] in 1923 when John Hertz of the Yellow Cab and Yellow Truck and Coach Manufacturing Company [purchase / bought] a small car rental company. He pioneered what he [called / terminology] a "drive yourself" system, making available [just / simple] a dozen Model T Ford cars to customers. His mission [be / was] , "to be the most customer-focused, cost-efficient vehicle and equipment rental company in [all / every] market." CNN wrote about how the pandemic has [compacted / impacted] Hertz and the entire car rental industry. It said rentals have been "devastated [by / of] the plunge in travel [since / for] the pandemic hit earlier this year". It added: "Nearly two-thirds of its revenue comes from rentals at airport locations, and air travel has fallen [sharply / bluntly] ."