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bankruptcy

/bæŋkrʌptsi/ noun · British & US
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What does bankruptcy mean?

noun

A legal status of a person or company that cannot pay their debts, or the act of declaring this status. A financial state of insolvency.

Example

"The company filed for bankruptcy and closed all its stores."

Reviewed by Deb Chak, Editor. AI-assisted content curated by RJS Tech Solutions LLP.

Etymologically related

Synonyms for bankruptcy

Antonyms of bankruptcy

Rhymes with bankruptcy