bankruptcy Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “bankruptcy” in the English Dictionary

(Definition of bankruptcy from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"bankruptcy" in American English

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bankruptcynoun [C/U]

 us   /ˈbæŋ·krəp·si/
the ​inability to ​payyourdebts, or a ​particularexample of this, ​involving the ​sale of ​yourproperty or some other ​arrangement to ​pay as much as ​possible of the ​money you ​owe: [U] If ​sales don’t ​improve, we’ll have to ​declare bankruptcy within a ​year.
(Definition of bankruptcy from the Cambridge Academic Content Dictionary © Cambridge University Press)

"bankruptcy" in Business English

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bankruptcynoun [C or U]

uk   us   /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 ​risingdaily.
(Definition of bankruptcy from the Cambridge Business English Dictionary © Cambridge University Press)
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