Money and banking / B1

BANGKR-upt/ˈbæŋkrʌpt/

Bankrupt means unable to pay debts; a company goes bankrupt. Bankruptcy is the noun (already in the dictionary). Insolvent is a close legal twin. Broke is informal. High street: the chain went bankrupt after rates rose.

Meaning

Unable to pay debts; legally failed as a business.

Examples

• “The high-street chain went bankrupt after the rates rise.”
• “Going bankrupt is a legal status, not only “having a thin month”.”

Good to know

go bankrupt; a bankrupt firm. Noun: bankruptcy. Informal: broke. Legal twin: insolvent. Business news. Not “bankrupted” as the usual UK news verb — went bankrupt.

Near in meaning

insolvent

Topics

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