goes bankrupt
Loses all money
Goes bankrupt describes the moment when a person or business becomes legally or financially insolvent—unable to pay debts as they come due.
Courts may declare someone bankrupt, or the phrase may be used more loosely to describe running out of money entirely.
The company went bankrupt after years of declining sales.
The phrase can extend figuratively to suggest complete depletion: a political party that has gone bankrupt of ideas.
- receivershipCourt-ordered asset management
- chapter elevenBankruptcy court protection filing
- liquidatedConverted holdings to currency
- insolvencyInability to pay debts
- defaultPreset standard option
wiped out · failure · foreclosure · bust · belly up · debtor · job loss · medical expenses · economic downturn · asset seizure · financial ruin · debt restructuring · in the red · maxed out · living paycheck to paycheck · penniless · unemployment · broke
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