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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.
How to assess risky credits covered by a CDS knowing that the insurer may go bankrupt?
She also said he subjected her to mental cruelty and caused her to go bankrupt.
If your customers take your hot crossed buns without paying, you'll go bankrupt quite fast!
It can subsequently elbow competitors out of the market and cause them to go bankrupt.
That question has a couple of answers, starting with the fact that they do go bankrupt a lot.

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