plural bankruptcies
1
a
: the condition of being bankrupt : a condition of financial failure caused by not having the money that you need to pay your debts
The company is facing bankruptcy.
The company filed for bankruptcy [=officially asked to be legally recognized as bankrupt] in July.
He declared bankruptcy. [=formally said that he was bankrupt in a legal document]
The company is now in bankruptcy. [=has been officially recognized as bankrupt]
The company was forced into bankruptcy.
—often used before another nounbankruptcy court/law
a bankruptcy judge/lawyer
b
: an occurrence in which a person, business, etc., goes bankrupt
The number of bankruptcies was especially high last year.
2
: the condition of completely lacking a good or desired quality
Critics view the decision as an example of moral/ethical bankruptcy on the part of the administration.
Cite this Entry
“Bankruptcy.” Merriam-Webster.com Simple Definition, Merriam-Webster, https://www.merriam-webster.com/simple/bankruptcy. Accessed 22 Jun. 2026.
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