bankruptcy

Definitions

The state of being completely lacking in a particular quality or attribute.

A legal proceeding in which a person or entity that cannot pay their debts is relieved of those debts by a court.

Examples

The company was forced to file for bankruptcy after years of declining sales.

Poor financial management eventually led the small business to bankruptcy.

The threat of bankruptcy forced the airline to restructure its entire operation.

Synonyms

insolvency failure ruin liquidation collapse impoverishment indigence

Antonyms

solvency wealth prosperity success affluence profitability stability