Hertz files for bankruptcy, a casualty of the coronacrisis in 2020. Anyone remember Budget? Budget filed for bankruptcy, a casualty of the 911 crisis in 2002. Budget listed $4.05 billion of assets and $4.33 billion of liabilities then and had 6,500 car and truck rental locations worldwide. Avis was Hertz’s major rival that acquired it. Here are highlights, reconstructed from history, of that bankruptcy.