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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

"Collins English Dictionary — Complete & Unabridged" 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
bankruptcy Cultural  

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

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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

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Example Sentences

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

It also neared bankruptcy in 2008 before it was awarded a big contract by NASA.

From MarketWatch • Mar. 31, 2026

The Alabama firm has been suing Johnson & Johnson with claims that J&J products are responsible for plaintiffs’ ovarian cancer, and it has opposed the company’s effort to file for bankruptcy.

From The Wall Street Journal • Mar. 30, 2026

During the month, it hit a high of $41.14, the highest trading level since September 2018, which came soon after it exited bankruptcy in 2017.

From Barron's • Mar. 30, 2026

One of the creditors, who has begun bankruptcy proceedings against de Min to try to recover his money, said the situation was "heartbreaking" because they had "trusted someone".

From BBC • Mar. 30, 2026

Over the course of ten years, they went from wealthy to filing for bankruptcy.

From "The Parker Inheritance" by Varian Johnson

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023

Idioms from The American Heritage® Idioms Dictionary copyright © 2002, 2001, 1995 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company.