declare bankruptcy

phrase

: to formally say in a legal document that one is bankrupt

Because of high medical expenses, he declared bankruptcy.

The company was forced to declare bankruptcy.

Examples of declare bankruptcy in a Sentence

Recent Examples on the Web

Lisa Noriega stopped working as a real estate agent and had to declare bankruptcy after contracting COVID for the sixth time. — Nicole Villalpando, Austin American Statesman, 15 Mar. 2026

The companies also could declare bankruptcy. — Theresa Clift, Sacbee.com, 6 Mar. 2026

If a business cannot generate positive free cash flows on a sustained basis and cannot take on more debt or issue more equity to finance itself, then it will be forced to declare bankruptcy. — Steve H. Hanke, Fortune, 24 Feb. 2026

Moreover, a federal statute allowing the states to declare bankruptcy would raise federalism issues under the Tenth Amendment. — Jon Coupal, Oc Register, 2 Feb. 2026