bankruptcy

Plural: bankruptcies

Noun

• a state of complete lack of some abstract property
  • "spiritual bankruptcy"
  • "moral bankruptcy"
  • "intellectual bankruptcy"
• inability to discharge all your debts as they come due
  • "the company had to declare bankruptcy"
• a legal process intended to insure equality among the creditors of a corporation declared to be insolvent
• A legally declared or recognized condition of insolvency of a person or organization.

Examples

• The company ended up filing for bankruptcy.

Synonyms

failure

Related Words

bankrupt, belly up, broke, bust, depression, economic downturn, financial crisis, go belly up, go broke, go bust, insolvency, insolvent, receivership, recession