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What does go bankrupt mean?

Looking for the meaning or definition of the word go bankrupt? Here's what it means.

Verb
  1. (intransitive) To become bankrupt.
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Rather than go bankrupt, he liquidated the remaining assets from the failed project and paid off almost all of his debts.
That question has a couple of answers, starting with the fact that they do go bankrupt a lot.
I wanted to make the point that it is too early to say who will go bankrupt, because nobody knows who the end-investors in the toxic assets are.
It can subsequently elbow competitors out of the market and cause them to go bankrupt.
How many doctors are made redundant or sacked, have to change career completely, or go bankrupt?
Late payments are in fact one of the main reasons why companies go bankrupt.

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