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IELTS word

bankruptcy

/ˈbæŋkrʌptsi/noun

English definition

the legal state of being unable to pay debts

Common phrases / collocations

  1. file for bankruptcy
  2. declare bankruptcy
  3. avoid bankruptcy

Example sentences

  1. 1.

    The shop closed after the company filed for bankruptcy.

  2. 2.

    The company tried to avoid bankruptcy.

  3. 3.

    Large debts pushed the firm into bankruptcy.

Visual learning

See the meaning

The owner of an empty closing shop studies a large stack of unpaid bills at a desk beside bare shelves.
the legal state of being unable to pay debts
1unpaid bills pile up
2shop closes
unpaid bills pile up→shop closes