bankruptcy
US /ˈbæŋkrəpsi/
Definition
a state of complete lack of some abstract property
Tested in TOEIC business and workplace contexts.
Examples
The retailer filed for bankruptcy after several years of heavy losses.
Word Family
Synonyms
- insolvencythe lack of financial resources
- liquidationtermination of a business operation by using its assets to discharge its liabilities
- failurean act that fails
Collocations
- Easy face bankruptcyto confront or deal with directly regarding bankruptcy
- Medium file for bankruptcy protectionto officially submit or record regarding for bankruptcy protection
- Hard discharge liabilities through bankruptcyto discharge liabilities through bankruptcy, meaning to complete or carry out
- Very Hard stave off imminent bankruptcy with bailoutsto stave off imminent bankruptcy with bailouts, meaning to furnish with staves
Learner's English edition · Curated definitions for TOEIC learners.