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Pedestrians walk past a shuttered Lord & Taylor department store in Garden City, New York, in May. Photo: Bruce Bennett/Getty Images

Lord & Taylor filed for Chapter 11 protection in Richmond, Virginia, on Sunday, Bloomberg first reported.

Why it matters: The 194-year-old luxury department store chain is the oldest in the United States. It's the latest retailer to declare bankruptcy during the coronavirus pandemic. Less than a year ago, Le Tote purchased Lord & Taylor from Hudson's Bay Co., the parent company of Saks Fifth Avenue. Le Tote also filed for Chapter 11 protection, per the New York Times.

Go deeper: The impending retail apocalypse

Editor's note: This article has been updated to reflect that Le Tote also filed for bankruptcy.

Go deeper

Virgin Atlantic declares bankruptcy after cutting over 3,000 jobs

Virgin Atlantic Airline planes in Manchester Airport on June 8. Photo: Oli Scarff/AFP via Getty Images

British airline Virgin Atlantic filed for Chapter 15 bankruptcy on Tuesday as a result of the economic disruption set off by the coronavirus pandemic, Business Insider reports.

Why it matters: This is the second airline belonging to billionaire Richard Branson's Virgin Group to file for bankruptcy protection this year, following Virgin Australia's filing in April.

Georgia governor declines Trump's request to help overturn election result

Georgia Gov. Brian Kemp. Photo: Elijah Nouvelage/Getty Images

Georgia Gov. Brian Kemp pushed back on Saturday after President Trump pressed him to help overturn the state's election results.

Driving the news: Trump asked the Republican governor over the phone Saturday to call a special legislative session aimed at overturning the presidential election results in Georgia, per the Washington Post. Kemp refused.