Brooks Brothers, the retailer known for dressing the great and good of the United States since 1818, filed for bankruptcy Wednesday (Thursday, Australian time), buckling under the pressure of the coronavirus pandemic after years of faltering sales as customers embraced more casual apparel and sales shifted online.

The company, founded and based in New York, filed for Chapter 11 restructuring proceedings in the US Bankruptcy Court for the District of Delaware. Claudio Del Vecchio, the Italian industrialist who bought the brand in 2001 and still owns the company, told The New York Times in May that he would not rule out Chapter 11 as a possibility.