bankruptcy
gb/bˈæŋkɹəpsi/ us/bˈæŋkɹəpsi/
B2
English
~ 4400
Senses
0 senses
Noun
B2
state
1
Legal state of insolvency
The legal situation when a person or business cannot pay back the money they owe.
Usage pattern:
declare [someone/something] bankrupt
Common mistake:
Learners sometimes confuse 'bankruptcy' with 'poverty'. Bankruptcy is a legal and financial status, while poverty is a general lack of money or resources.
Synonyms
insolvency (A broader financial term, sometimes used outside of legal contexts, but often interchangeable in business and legal language.)
Antonyms
solvency (The financial state of being able to meet all debt obligations, opposite of bankruptcy.)
Collocations
declare bankruptcy
|file for bankruptcy
|face bankruptcy
|go into bankruptcy
|bankruptcy court
Themes
business
|law
|finance
Examples
- After months of losses, the company filed for bankruptcy.
- He declared bankruptcy to avoid foreclosure on his home.
- Bankruptcy laws vary from country to country.
- The sudden market crash pushed several small firms into bankruptcy.
- They managed to avoid bankruptcy by securing a loan.
Learner examples
- The store went into bankruptcy last year.
- She had to file for bankruptcy after losing her job.
- Many people fear bankruptcy.
- The company avoided bankruptcy by selling some property.
Noun
C1
state
2
Total failure or collapse
A complete loss of something important, such as ideas or morals.
Common mistake:
Learners may think this meaning still refers to money. In this sense, it is figurative and about a lack of values or ideas, not finances.
Synonyms
failure (A general term for not succeeding; 'bankruptcy' in this sense is more emphatic and often figurative.)
Antonyms
integrity (For moral contexts, integrity represents the presence of strong ethical principles, opposite of moral bankruptcy.)
Collocations
moral bankruptcy
|intellectual bankruptcy
|political bankruptcy
Themes
society
|ethics
|core_vocabulary
Examples
- Critics accused the regime of moral bankruptcy.
- The proposal showed an intellectual bankruptcy in addressing the real problem.
- Some see the scandal as proof of political bankruptcy.
Learner examples
- The leader was accused of moral bankruptcy.
- His ideas show intellectual bankruptcy.
- The party suffered from political bankruptcy.
Grammar
Dictionary form
bankruptcy
IPA
GB/bˈæŋkɹəpsi/
US/bˈæŋkɹəpsi/
Syllables & stress
bank - ruptcy (2 syllables)
Stress on 1st syllable (bank)
Word forms
Noun
- Base: bankruptcy
- Plural: bankruptcies, bankruptcy
Word family
Forms
bankruptcies
noun
Core family
bankrupt
adjective B2
Related words
insolvent
adjective
insolvency
noun C1
Expressions
avoid bankruptcy
1/əvˈɔɪd bˈæŋkɹəpsi/
fixed phrase
Prevent insolvency status
To stop yourself or your business from going bankrupt.
Examples
- They avoided bankruptcy by cutting costs sharply.
- The loan helped him avoid bankruptcy.
file for bankruptcy
1/fˈaɪl fɚ bˈæŋkɹəpsi/
fixed phrase
Apply for legal insolvency status
To officially ask a court to say you cannot pay your debts.
Examples
- The company filed for bankruptcy after its sales dropped sharply.
- He filed for bankruptcy to protect his remaining assets.
moral bankruptcy
1/mˈɔɹəl bˈæŋkɹəpsi/
fixed phrase
Lack of morals or ethics
A complete loss of good moral values.
Examples
- The corruption scandal showed the government's moral bankruptcy.
- Some say greed is a sign of moral bankruptcy.
declare bankruptcy
1/dɪklˈɛɹ bˈæŋkɹəpsi/
fixed phrase
Formally state inability to pay debts
To officially say in court that you cannot pay your debts.
Examples
- The company declared bankruptcy after years of losses.
- She declared bankruptcy after years of financial trouble.
- He had to declare bankruptcy due to medical bills.
- The business declared bankruptcy in 2020.
go bankrupt
1/ɡˈoʊ bˈæŋkɹəpt/
fixed phrase
become unable to pay debts
To become unable to pay the money you owe, often in an official legal way.
Examples
- Many small shops went bankrupt during the recession.
- Many small restaurants went bankrupt during the economic crisis.
- They fear the company will go bankrupt next year.
- If sales keep falling, the company could go bankrupt next year.
- They went bankrupt after losing their biggest customer.