bankruptcy

American  

[bangk-ruhpt-see, -ruhp-see] / ˈbæŋk rʌpt si, -rəp si /

noun

plural

bankruptcies

1. the state of being or becoming bankrupt.

2. utter ruin, failure, depletion, or the like.

---

bankruptcy British  

/ ˈbæŋkrʌptsɪ, -rəptsɪ /

noun

1. the state, condition, or quality of being or becoming bankrupt

---

bankruptcy Cultural  

1. Legally declared insolvency, or inability to pay creditors.

---

Discover More

If an individual or a corporation declares bankruptcy, a court will appoint an official to make an inventory of the individual's or corporation's assets and to establish a schedule by which creditors can be partially repaid what is owed them.

An individual who is lacking a specific resource or quality is sometimes said to be bankrupt, as in intellectually bankrupt or morally bankrupt.

Other Word Forms

• prebankruptcy noun

Etymology

Origin of bankruptcy

First recorded in 1690–1700; bankrupt + -cy

Compare meaning

How does bankruptcy compare to similar and commonly confused words? Explore the most common comparisons:

• insolvency vs. bankruptcy

Example Sentences

Home goods retailer At Home closed 26 stores nationwide, including eight in California, as it declared bankruptcy.

From Los Angeles Times

Troyes had been facing back-to-back relegations to the third tier and were saved only by the bankruptcy of Bordeaux.

From BBC

See luxury retailer Saks Global, which is teetering on the brink of bankruptcy after splurging on debt.

From The Wall Street Journal

One of its biggest rent-stabilized borrowers, Pinnacle Group, filed for bankruptcy last spring.

From The Wall Street Journal

A lurid tale of misadventure, moral bankruptcy and mean girls, “His & Hers” has other qualities, too, notably Tessa Thompson, whose recent turn in “Hedda” haunts her role in this potboiler.

From The Wall Street Journal

Related Words

• default
• disaster
• failure
• insolvency
• liquidation
• loss