Definition of “bankruptcy” - English Dictionary

“bankruptcy” in English

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uk /ˈbæŋ.krə us /ˈbæŋ.krə

(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 pay your debts, or a particular example of this, involving the sale of your property 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 /ˈbæŋkrəptsi/ us 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.

(Definition of “bankruptcy” from the Cambridge Business English Dictionary © Cambridge University Press)