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bankrupt

/ˈbæŋ.kɹəpt/ /ˈbæŋk.ɹəpt/

Meanings
noun
One who becomes unable to pay his or her debts; an insolvent person.

Examples :

"The struggling business owner declared bankruptcy, unable to pay his creditors. "
business finance economy toeic

Related Words

Illustration condition

condition noun

/kənˈdɪʃən/

A logical clause or phrase that a conditional statement uses. The phrase can either be true or false.

"The condition for getting a raise at work is meeting your quarterly targets. "

Illustration something

something noun

/ˈsamθɪŋ/ /ˈsʌmθɪŋ/

An object whose nature is yet to be defined.

"My friend told me there was something in the box, but I didn't know what it was yet. "

Illustration insolvent

insolvent noun

/ɪnˈsɒlvənt/ /ɪnˈsɑːlvənt/

One who is insolvent; an insolvent debtor.

"The insolvent owed a large sum of money to the bank. "

Illustration bankruptcy

bankruptcy noun

/ˈbæŋkɹʌptsɪ/

A legally declared or recognized condition of insolvency of a person or organization.

"The failing bakery declared bankruptcy after several years of declining sales. "

Illustration investors

investors noun

/ɪnˈvɛstərz/

A person who invests money in order to make a profit.

"The company needed more money, so they asked investors to buy shares. "

Illustration bankrupted

bankrupted verb

/ˈbæŋkrʌptɪd/ /ˈbæŋkrəptɪd/

To force into bankruptcy.

"The expensive lawsuit bankrupted the small family business. "

Illustration creditors

creditors noun

/ˈkredɪtərz/

A person to whom a debt is owed.

"The company struggled to pay its creditors after a bad year for sales. "

Illustration destitute

destitute adjective

/ˈdɛstɪtjuːt/ /ˈdɛstɪtuːt/

(followed by the preposition "of") Lacking something; devoid

"The family was destitute of resources, making it difficult to afford food and rent. "

Illustration management

management noun

/ˈmænədʒmənt/

Administration; the use of limited resources combined with forecasting, planning, leadership and execution skills to achieve predetermined specific goals.

"The school's management team used careful planning and budgeting to ensure enough resources for all students' needs. "

Illustration struggling

struggling verb

/ˈstɹʌɡlɪŋ/

To strive, to labour in difficulty, to fight (for or against), to contend.

"During the centuries, the people of Ireland struggled constantly to assert their right to govern themselves."

Illustration practices

practices noun

/ˈpɹæktɪsɪz/

Repetition of an activity to improve a skill.

"He will need lots of practice with the lines before he performs them."

Illustration politician

politician noun

/ˈpɒl.ɪ.tɪʃ.ən/ /pɑl.ɪˈtɪʃ.ən/

One engaged in politics, especially an elected or appointed government official.

"The politician spoke at the school assembly about the importance of community involvement. "