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.

Biden: The next president should decide on Ginsburg’s replacement

Joe Biden. Photo: Drew Angerer / Getty Images

Joe Biden is calling for the winner of November's presidential election to select Ruth Bader Ginsburg's replacement on the Supreme Court.

What he's saying: "[L]et me be clear: The voters should pick the president and the president should pick the justice for the Senate to consider," Biden said. "This was the position the Republican Senate took in 2016 when there were almost 10 months to go before the election. That's the position the United States Senate must take today, and the election's only 46 days off.

Trump, McConnell to move fast to replace Ginsburg

Photo: Alex Wong/Getty Images

President Trump will move within days to nominate his third Supreme Court justice in just three-plus short years — and shape the court for literally decades to come, top Republican sources tell Axios.

Driving the news: Senate Majority Leader Mitch McConnell and Senate Republicans are ready to move to confirm Trump's nominee before Election Day, just 46 days away, setting up one of the most consequential periods of our lifetimes, the sources say.