By Shivam Shah
During this pandemic, many businesses have been hit hard. From the restaurant industry to the retail industry, this pandemic has had a far-reaching impact on the economy; businesses are stalling, and some have to shut down or file for bankruptcy - due to the lack of customers from these governmental restrictions.
One such company, Hertz, sets the precedent of the COVID-19’s far-reaching impact. After this crisis, it will be the first company to seek Chapter 11 Protection, otherwise meaning that it will file for bankruptcy. Due to the restrictions on ground travel, Hertz is not able to rent out its vehicles sufficiently, meaning that business remains stagnant as the weeks of shutdown stretch into months. In economics, this pandemic has hit small businesses hard, but this will be the first of the top-profile companies to go down in history as being significantly affected by this crisis. Overall, this reiterates the impact that the crisis has had on a multitude of industries, and we will have to see how it may continue to affect the rest of the rental and transportation industry - from Hertz to Delta.
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