re ‧ ceiv ‧ er ‧ ship /rɪˈsiːvəʃɪp $ -vər-/ BrE AmE noun [uncountable]
[ Word Family: noun : ↑ receipt , receipts, ↑ receiver , ↑ reception , ↑ receivership , ↑ receiving , ↑ receptionist , ↑ receptor ; adjective : ↑ receptive ≠ UNRECEPTIVE , ↑ received ; verb : ↑ receive ]
if a business is in receivership, it is controlled by an official receiver because it has no money:
The company went into receivership with massive debts.