On May 4, J.Crew became the first major American retailer to file for bankruptcy, with Neiman Marcus and Gold’s Gym quickly following. With unemployment at record levels and a wave of bankruptcies expected, the COVID-19 health crisis is quickly turning into an economic crisis—despite the CARES Act passed by Congress in April. In this episode of Stanford Legal, bankruptcy law expert and Stanford Law Professor George Triantis explains how current U.S. bankruptcy laws can help us through this crisis and offers his recommendations on what more the government can do.
