Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English

English definition of “bankruptcy”

See all translations

bankruptcy

noun [C or U]
 
 
/ˈbæŋkrəptsi/ ( plural bankruptcies)
LAW, FINANCE a situation in which a business or a person becomes unable to pay their debts, and is officially bankrupt: be on the brink/verge of bankruptcy The country's largest automaker is rumored to be on the brink of bankruptcy.declare/file for bankruptcy Now he's $37,000 in debt and plans to file for bankruptcy. The company was forced into bankruptcy. The toll of bankruptcies was rising daily. →  See also act of bankruptcy , Chapter 11 , discharge in bankruptcy , involuntary bankruptcy , voluntary bankruptcy
(Definition of bankruptcy from the Cambridge Business English Dictionary © Cambridge University Press)
What is the pronunciation of bankruptcy?
Add Cambridge dictionaries to your browser to your website

Definitions of “bankruptcy” in other dictionaries

Word of the Day

be in/out of luck

to be able/unable to have or do what you want

Word of the Day

A certain je ne sais quoi: French words and phrases used in English

by Liz Walter,
January 21, 2015
It is an odd irony that the more sophisticated your use of English is, the more likely you are to use French words and phrases. Or, to be more accurate, ones you know to be French – words such as ballet, au pair, abattoir, fiancé, café, and restaurant are so entrenched in

Read More 

micro pig noun

January 26, 2015
an extremely small pig, bred to be a pet Micro pigs have become popular pets recently, with famous owners including Victoria Beckham, Paris Hilton and Olympic diver, Tom Daley.

Read More