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Hertz Preparing Bankruptcy Filing as Soon as This Weekend

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Hertz Global Holdings Inc. is preparing to file for bankruptcy as soon as this weekend after failing to reach a standstill agreement with top lenders, according to people familiar with the matter.

The car-rental company is planning to seek chapter 11 protection in the coming days after government restrictions on travel cut down on air and ground traffic, crushing the vehicle-rental market, these people said.

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