Bankrupted

The state of being financially ruined or unable to meet one's obligations due to excessive debt or other liabilities, leading to the necessity of legal proceedings to resolve outstanding debts. It can apply to individuals, businesses, or organizations, often resulting in the liquidation of assets or restructuring of debt agreements.

Bankrupted meaning with examples

• After years of poor management and dwindling sales, the company finally went bankrupt, leaving thousands of employees without jobs and investors with substantial losses. The shocking news sent ripples through the local economy, as many small businesses relied on their services.
• The family was devastated when they learned their once-thriving restaurant had bankrupted. After struggling to keep up with rising costs and decreasing customers, they had no choice but to sell their assets and start over. The emotional toll was as heavy as the financial burden they faced.
• When the celebrity entrepreneur was declared bankrupted, it caught everyone by surprise. Known for their extravagant lifestyle and successful ventures, their financial troubles revealed a darker side of financial mismanagement and risky investments.
• Bankrupted by medical bills and exorbitant healthcare costs, many families find themselves facing insurmountable debt. Advocates argue for better healthcare policies to prevent individuals from bearing the financial weight of necessary treatments for chronic illnesses.
• The real estate market crash bankrupted several once-successful developers, leading to abandoned projects and stalled communities. The aftermath raised concerns about economic stability and prompted discussions about the need for stricter regulations in the housing sector.