bankruptcy
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bankruptcy
The financial insolvency of a person or company that is officially determined. Colloquially also called 'Pleite' (going broke).
Die Baufirma musste nach dem Wegfall großer Aufträge Bankrott anmelden.
The construction company had to file for bankruptcy after major contracts fell through.
failure / collapse
In a figurative sense, the complete failure or collapse of something immaterial, such as an idea, morality, or policy.
Die Verhandlungen endeten in einem diplomatischen Bankrott.
The negotiations ended in a diplomatic collapse.
The word comes from the Italian 'banca rotta', which means 'broken table'. It refers to the custom of smashing the table of an insolvent money changer.
Ohne neue Investoren steht die Firma kurz vor dem Bankrott.
Without new investors, the company is on the verge of bankruptcy.
In a financial context, 'Bankrott' (bankruptcy) is often combined with verbs such as 'anmelden' (to file for), 'machen' (to go bankrupt), or 'gehen' (to go bankrupt). You can also say 'vor dem Bankrott stehen' (to be on the verge of bankruptcy).
Viele kleine Geschäfte mussten während der Krise Bankrott gehen.
Many small shops had to go bankrupt during the crisis.
In the figurative sense, 'Bankrott' (failure/collapse) is often combined with an adjective that describes the area of failure, e.g., 'ein moralischer Bankrott' (a moral bankruptcy) or 'ein politischer Bankrott' (a political bankruptcy).
Seine Lügen waren der Beweis für seinen moralischen Bankrott.
His lies were proof of his moral bankruptcy.
bankruptcy / flop
Pleite and Bankrott can both refer to the financial collapse of a person or company. Pleite is the colloquial term and can sound less precise. Bankrott refers to officially established insolvency and is therefore more appropriate in a formal context.
Der amtliche Bericht bestätigt den Bankrott des alten Familienbetriebs.
The official report confirms the old family business's bankruptcy.
Im Ort reden viele über die Pleite des alten Familienbetriebs.
Many people in town are talking about the old family business going bankrupt.
