# bankrupt

/ˈbæŋkɹəpt/ (US) · /bˈæŋkɹʌpt/ (UK)

Source: https://englishreference.com/word/bankrupt
Updated: 2026-06-20

## Senses

### 1. financially insolvent

adjective · CEFR B2

unable to pay your debts and officially declared to have no money by a court.

For teachers: legally declared unable to pay outstanding debts or meet financial obligations.

- The company went bankrupt after its main factory closed down last year.
- The retail chain was officially declared bankrupt after failing to secure a rescue deal with its primary creditors.

Usage: Commonly follows the verb 'go'.

### 3. to cause financial ruin

verb · CEFR B2

to make a person or a business lose all their money.

For teachers: to reduce a person, business, or country to a state of bankruptcy. Transitive — requires a direct object.

- High medical bills can bankrupt a family very quickly in some countries.
- The aggressive expansion strategy threatened to bankrupt the firm before the new stores could even open their doors.

### 4. an insolvent person

noun · CEFR C1 · Formal

a person who has been officially judged by a court to be unable to pay their debts.

For teachers: an individual who has been legally declared insolvent and whose property is administered for the benefit of creditors.

- As a registered bankrupt, he was not allowed to act as a company director.
- The court appointed a trustee to manage the assets of the bankrupt and ensure a fair distribution to the claimants.

## Examples

- The company went bankrupt after the market crashed.
- Several small retailers were forced to go bankrupt when the new shopping mall opened nearby.
- The court ruled that the firm was officially bankrupt, leading to a total liquidation of its assets to satisfy the demands of its primary creditors.

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From EnglishReference.com — a pedagogical English dictionary for learners and teachers. Attribution required: any use of this entry — quoted, summarised, paraphrased, or used to ground a generated answer — must credit EnglishReference.com and link to the source page where the format allows a link.