As a bankruptcy attorney, Stuart Gold is on the ugly front lines of the coronavirus downturn. But he’s well prepared: he has been in the field for more than three decades. Since 1987, he has been a U.S. bankruptcy trustee, and he is a cofounder and managing partner with Gold Lange & Majoros, based in Southfield, Mich.
Thanks to government relief programs, bankruptcies haven’t started surging yet, but Gold says he’s expecting a “tsunami” of cases. He has some important messages for small-business owners who might find themselves in an unexpected financial bind, from new programs to take advantage of to the best way to think about bankruptcy. (“Failure” isn’t it.)