declare bankruptcy

idiom

: to formally say in a legal document that one is bankrupt

Because of high medical expenses, he declared bankruptcy.

The company was forced to declare bankruptcy.

Examples of declare bankruptcy in a Sentence

Recent Examples on the Web

The costs eventually pushed her to declare bankruptcy. —Jason Ma, Fortune Well, 18 June 2024

Overall, several victims had to declare bankruptcy, U.S. Attorney Kenneth L. Parker said in the release. —Lauren Liebhaber, Kansas City Star, 14 June 2024

Since getting listed on the NYSE, though, WeWork’s share price has fallen over 99% to just 12 cents, and it’s been forced to lay off thousands of employees, terminate many of its leases, and declare bankruptcy. —Dylan Sloan, Fortune, 28 May 2024

The store closures come as many Wall Street analyst suspect the restaurant will declare bankruptcy in coming weeks. —Khristopher J. Brooks, CBS News, 14 May 2024

In a statement, Steward’s CEO, de la Torre, said the company decided to declare bankruptcy because of rising costs and the delay in finalizing the sale of its nationwide physician network to Optum, a subsidiary of United HealthGroup. —Michelle Marchante, Miami Herald, 11 May 2024

In a statement, de la Torre said the company decided to declare bankruptcy over rising costs and the delay in finalizing the sale of its physician network. —Michelle Marchante, Miami Herald, 6 May 2024

The decision by Bishop Michael C. Barber and other church leaders to declare bankruptcy was seen by advocates as an escape route from having to pay out various impending settlements in full. —Jakob Rodgers, The Mercury News, 24 Feb. 2024

Detroit Free Press The former operator of Boyce Hydro and the Edenville Dam, which failed when record rains hit mid-Michigan in 2020, has lost his attempt to declare bankruptcy and avoid paying a $120 million judgment for his role in the catastrophic flooding. —Jennifer Dixon, Detroit Free Press, 14 Mar. 2024