BANKRUPT

Good morning.

Today's word is: Bankrupt (adj) or bankruptcy (noun)

Meaning: not having enough money to pay what you owe.

The expression TO GO BANKRUPT is the verb form of these words. To officially ask to be bankrupt (to be in a state of bankruptcy) is to FILE FOR BANKRUPTCY.

Example 1:
The company went bankrupt in 2003.

Example 2:
The company filed for bankruptcy in 2003.

Example 3:
With the recent economic crisis, some believe that there will be further bankruptcies in the next several months.

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Have a nice day.