Photo: John Nacion/NurPhoto via Getty Images

J. Crew filed for bankruptcy Monday, reaching a deal with its lenders to convert $1.65 billion of debt into equity, Bloomberg reports.

Why it matters, via Axios' Dan Primack: It's one of the first major retail casualties of the coronavirus pandemic, though the chain was in serious financial trouble long before. The outbreak forced J. Crew, like its peers, to close its physical stores, but it also scuttled an IPO for jeans unit Madewell, which would have provided the company with fresh capital.

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17 hours ago - Health

The winter from hell

Photo: Stan Grossfeld/The Boston Globe via Getty Images

The hope and promise of May is gone, replaced by the realization that America is in for another miserable year of COVID-19.

Why it matters: Another winter — and another flu season — is on the way as the U.S. engages in a whack-a-mole strategy that slows down the virus in one region, but sees it flaring up in another.

Updated 14 hours ago - Health

World coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Axios Visuals

The number of COVID-19 cases surpassed 20 million worldwide on Monday evening, Johns Hopkins data shows.

The big picture: World Health Organization chief Tedros Adhanom Ghebreyesus told a virtual press conference as the world approached the milestone that 750,000 deaths were set to be recorded this week. "Every life lost matters," he said. "But I want to be clear: there are green shoots of hope and... it's never too late to turn the outbreak around."

12 hours ago - Health

Georgia governor: It's up to schools to enforce wearing masks

Gov. Brian Kemp at a press conference on Aug. 10. Photo: Elijah Nouvelage/Getty Images

Georgia Gov. Brian Kemp on Monday said the responsibility should be on schools to enforce a mandate on face coverings, the Atlanta-Journal Constitution reports.

Why it matters: Georgia is reporting the fifth-most coronavirus cases in the country, per Johns Hopkins, and the risk of spread in the state is high.