From Longman Dictionary of Contemporary Englishbankruptbank‧rupt1 /ˈbæŋkrʌpt/ ●●○ adjective 1 FAILMONEYwithout enough money to pay what you owe syn insolvent The firm went bankrupt before the building work was completed. In 1977 he was declared bankrupt (=by a court). Mr Trent lost his house when he was made bankrupt. Seventeen years of war left the country bankrupt. a bankrupt electrical company2 NOT HAVEcompletely lacking a particular good quality The opposition attacked the government as morally bankrupt.THESAURUSbankrupt without any money and unable to pay your debts – used about a person or business that has to officially admit this and stop trading permanentlyMany small businesses will go bankrupt unless interest rates fall.He was declared bankrupt in the High Court yesterday.be in financial difficulties to have difficulty paying your bills and debts, often so that you are in danger of becoming bankrupt – used about people and businessesThe firm has been in financial difficulties for some time.He was in financial difficulties and knew that he would have to sell his home.go bust/go under informal to become bankrupt and have to stop operating – used about a businessThe supermarket isn’t there anymore – it went bust ages ago.During the last recession, dozens of businesses were going under every day.insolvent formal bankrupt – used about people and businessesThe bank was declared insolvent. Directors of insolvent companies often ignore demands for payment.Individuals becoming insolvent also jumped 9% to 9,470 in the third quarter.
Examples from the Corpusbankrupt• It arose out of an action for professional negligence against a firm of accountants, but the person bringing the action went bankrupt.• The best remedy for a creditor owed more than £50 was to make his debtor bankrupt.• Unemployment soared, and many small producers of cash crops went bankrupt.• Within a year he was bankrupt.• Five years ago she was a successful actress, but now she is bankrupt.• The state is virtually bankrupt.• At yesterday's private hearing in the High Court Kevin Maxwell was officially declared bankrupt for a record £406million.• He claimed that American political leaders were morally bankrupt for not meeting welfare needs.• His archaic anti-Western policies were bankrupt, he now realized.• When Quaker tea merchant Joseph Fry went bankrupt in 1828 his monthly meeting disowned him.• He was declared bankrupt in the High Court yesterday.• For example your own columns continually describe Equitable as if it is bankrupt, in trouble, or in crisis.• a bankrupt steel manufacturer• He lent him several thousand dollars to help rescue his bankrupt textile business.• Many small businesses will go bankrupt unless interest rates fall.went bankrupt• Investors lost their savings and some businessmen, more particularly the smaller ones, went bankrupt.• Over six thousand northern firms went bankrupt.• Soon after, the company itself went bankrupt.• Kemp went bankrupt, and there were insufficient purchasers to complete the grand design.• Some residents of Villa Aspara are unhappy that their developer went bankrupt and was unable to complete the condominiums, Gregory said.• When Quaker tea merchant Joseph Fry went bankrupt in 1828 his monthly meeting disowned him.• The former brewing, media and property magnate went bankrupt in April owing millions of pounds.• The company went bankrupt last year.morally bankrupt• But the annexation of the other planets of the Althosian system had left Nicaea economically and morally bankrupt.• The conservative critique along such lines argues that liberalism is morally bankrupt.