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On August 2, 2020, Lord & Taylor, the 194-year-old U.S. department store chain, filed for Chapter 11 bankruptcy protection. A week earlier, two other department
On August 2, 2020, Lord & Taylor, the 194-year-old U.S. department store chain, filed for Chapter 11 bankruptcy protection. A week earlier, two other department store chains, JCPenney and Neiman Marcus, did the same. All three argued that bankruptcy was caused by the coronavirus pandemic. What was the benefit to these three retailers of filing for bankruptcy protection?
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