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Bankrupt: Definition, Usage & Common Mistakes (2 meaning)

Meaning 1:financially ruined (bankrupt)

bankrupt 🔊
/ˈbæŋkrʌpt/
adj.
Describes a person or company legally declared unable to pay back the money they owe.
Bankrupt definition illustrated by a closed store with a 'Bankrupt' sign on the door.
financially ruined 🔊
/faɪˈnænʃəli ˈruːɪnd/
adj.
Describes the state of being legally insolvent, unable to pay debts.
📁 Category:Social Economy 🔖 Level:Intermediate

📘 Details & Usage

📖 Root Explanation
From Italian 'banca rotta', meaning 'broken bench'.
💡 Mnemonic
Think of a BANK account that is RUPTured (broken), leading to financial failure.
📖 Example
The hundred-year-old bookstore bankrupt and closed its doors last week because too many people shop online now. 🔊 The long-established bookstore became insolvent and shut down recently as a result of the shift to online shopping.
🔗 Collocations
go bankrupt – to become officially insolvent
declare bankrupt – to be officially stated as insolvent by a court
legally bankrupt – formally recognized as insolvent under the law
🔄 Synonyms
insolvent (adj.) – Unable to pay debts when they are due.
broke (adj.) – Informal term for having no money.
penniless (adj.) – Having little or no money.
🚫 Antonyms
solvent (adj.) – Having enough money to pay all debts.
affluent (adj.) – Having a great deal of money; wealthy.
wealthy (adj.) – Having a large amount of money or assets.
🌱 Derivatives
bankruptcy (n.) – The state of being bankrupt; the legal process for it.
bankrupt (v.) – To make someone bankrupt or to become bankrupt.
📖 Cultural Story
In medieval Italy, moneychangers worked on benches. If one failed, their bench was broken ('rotta'), a public sign of insolvency. This evolved into 'bankrupt'.

Meaning 2:utterly lacking (bankrupt)

bankrupt 🔊
/ˈbæŋkrʌpt/
adj.
Used figuratively to mean completely lacking in a particular quality or resource, like ideas or morals.
Figurative meaning of bankrupt shown by a dry, cracked riverbed symbolizing lack.
utterly lacking 🔊
/ˈʌtərli ˈlækɪŋ/
adj.
Describes a state of complete absence or deficiency in a non-financial quality, such as ideas, morals, or creativity.
📁 Category:Behaviors & Actions 🔖 Level:Intermediate

📘 Details & Usage

📖 Example
The comedian's old jokes are bankrupt of any new ideas, so the audience doesn't laugh anymore. 🔊 The performer's routine is devoid of originality, resulting in a lack of laughter from the crowd.
🔗 Collocations
morally bankrupt – completely lacking ethical principles
bankrupt of ideas – having no new or useful thoughts
intellectually bankrupt – devoid of sound reasoning or substantial thought
🔄 Synonyms
devoid (adj.) – Entirely lacking or free from.
bereft (adj.) – Deprived of or lacking something, especially a non-material asset.
destitute (adj.) – Lacking a specified quality or item (formal).
🚫 Antonyms
replete (adj.) – Filled or well-supplied with something.
abundant (adj.) – Existing or available in large quantities; plentiful.
rich (adj.) – Having a plentiful supply of a desirable quality.
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