Business executives, sports stars and other rich and successful people go broke and deep into debt all the time. The reason is the same whether you are a plumber or CEO – living beyond your means and not saving.
For sure people go broke from over spending and going into debt.
But this is a story of someone going into debt trying to stay afloat during a stay at home order apparently.
Since the OP, it has come to light that he was more of a small business owner bidding on jobs prior to covid, which makes a lot more sense how a sudden drop in available work could wipe you out.