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Coronavirus Watch: Pandemic induces big-name bankruptcies


J. Crew became the biggest retail name to file for bankruptcy during the pandemic, while a federal report says China downplayed the severity of coronavirus while it stocked up on medical supplies.

This is Monday's Coronavirus Watch, courtesy of the Paste BN Network. Here's the latest information, as of 1 p.m. ET.

  • J. Crew was already dealing with struggles before the pandemic, but the fashion retailer's parent company filed for Chapter 11 bankruptcy protection Monday after the outbreak pushed the company deeper into crisis mode. 
  • Also filing for Chapter 11 bankruptcy Monday was the owner of Gold's Gym, which is mostly franchised but permanently closed 30 company-owned locations in recent weeks. The brand has nearly 700 fitness centers.
  • China concealed the severity of coronavirus in early January to hoard medical equipment, according to a report from the Department of Homeland Security.
  • Several states have pushed forward on reopening polices. Here is a state-by-state reopening tracker.
  • President Donald Trump on Sunday said the U.S. coronavirus death toll could eventually reach 80,000 to 90,000.
  • However, according to an internal document obtained by the New York Times, the administration is privately projecting the daily death toll to reach as high as 3,000 by June 1. 
  • As of Monday afternoon, there were more than 67,000 deaths from the virus and 1.1 million confirmed cases, according to Johns Hopkins University data.
  • Worldwide, the death toll was nearly 250,000, while more than 3.5 million cases have been confirmed.
  • The U.S. Senate, controlled by the GOP, was scheduled to reconvene Monday, but the Democrat-led U.S. House declined to meet, citing health risks. 
  • After many states saw elections impacted by coronavirus, two-thirds of Americans support voting by mail, according to a new poll from Paste BN and Suffolk University. However, the poll found a majority of Republican voters oppose the practice.
  • Italy, one of the nations hit hardest by the virus, began to ease some restrictions Monday. Construction and manufacturing restarted, but many stores are scheduled to stay closed for at least two more weeks.
  • The NFL canceled all international games, previously scheduled in London and Mexico City, for the 2020 regular season. 

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– Jay Cannon, Paste BN Network and Wires Editor, @JayTCannon on Twitter