going bankrupt
Losing all money
Going bankrupt is the process of becoming unable to pay one's debts and entering formal bankruptcy proceedings.
The phrase captures the transition into financial ruin rather than the state itself: The company is going bankrupt after years of losses.
It can also describe personal financial collapse: Between medical bills and the divorce, he's going bankrupt.
- liquidationSelling assets for cash
- insolventUnable to pay debts
- creditorOne owed money
- collapseSudden structural failure
- defaultPreset standard option
failure · debtor · maxed out · dissolution · go bust · receivership · final notice · shame · emotional recovery · demise · resilience · starting over · stigma · trustee · repayment plan · foreclosure · destitute · rock bottom
going bankruptgoing public
Launching a stock offering
expanding · scaling up · cornering the market · going from strength to strength · hitting the big time
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