I. bank ‧ rupt 1 /ˈbæŋkrʌpt/ BrE AmE adjective
1 . without 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 company
2 . completely lacking a particular good quality:
The opposition attacked the government as morally bankrupt.
• • •
THESAURUS
▪ bankrupt without any money and unable to pay your debts – used about a person or business that has to officially admit this and stop trading permanently:
Many 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 businesses:
The 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 business:
The supermarket isn’t there any more – it went bust ages ago.
|
During the last recession, dozens of businesses were going under every day.
▪ insolvent formal bankrupt - used about people and businesses:
The 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.
II. bankrupt 2 BrE AmE verb [transitive]
to make a person, business, or country bankrupt or very poor SYN ruin :
Johns had been nearly bankrupted through a failed business venture.
III. bankrupt 3 BrE AmE noun [countable]
[ Date: 1500-1600 ; Origin: bankrupt 'bankruptcy' (16-18 centuries) , from French banqueroute , from Old Italian bancarotta , from banca 'bank' + rotta 'broken' ]
someone who has officially said that they cannot pay their debts
certified/uncertified bankrupt British English (=one a court does or does not allow to start a business again)