Nancy Richard, a member of the family that owns electronics and appliance retailer P.C. Richard & Son, was killed on Monday after being struck by a vehicle driven by her husband, police said.
The Suffolk County Police Department confirms to PEOPLE that Richard, 79, was returning to her home in Fort Salonga, New York, after walking her grandchild to the bus stop around 7:30 a.m. on Monday morning.
“Nancy Richard, wife of Peter Richard, tragically passed away yesterday,” the Richard family says in a statement to PEOPLE. “Mr. Richard, his children and family ask everyone to respect their privacy as they grieve the tragic loss of their wife, mother and grandmother.”
As Nancy approached the home, she was hit by a 2015 Mercedes-Benz driven by her husband Peter, who was backing out of their driveway at the time, authorities said. The incident appears to be an accident, NBC affiliate WNBC reported.
Nancy was then transported to a local hospital, where she was pronounced dead, according to police. Peter, 83, was not injured.
Police said the vehicle has been impounded for a safety check. An investigation into the incident is ongoing.
As WNBC and WCBS previously reported, Peter and Nancy are members of the family that owns P.C. Richard & Son, a regional chain of appliance, television, electronics and mattress stores. The first store opened in Brooklyn, New York, in 1909 and the retailer has since expanded to 66 stores across the northeastern United States.