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go bust

Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
in General Chat
What is a technical term for go bust? im writing an article about a company that is set to go bust but think i need a more proper term? any suggestions much appreciated!

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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Bankrupt, calling the receivers in, liquidated ? Although i think liquidated is when you sell off all of a comapnies assets to pay debts ??
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    ah yes, of course - bankrupt! is right to sey: "Is set to go bankrupt" ?
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    no, i know exactly what you mean!! they definitely are set to go bankrupt though as they've reached the end of their overdraft, so to speak, and the bank wont lend them anymore. they're gonna do things to stop them going bankrupt so it probably wont happen in the end, but i guess it still means they are potentially set to...
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Into liquidation (if tger are selling theor assets off) or adminstation (where they appoint an trained accountant to manage the assets and try to get enough money into the company to stop it going under).

    Bankruptcy should technically only be used as a term for individuals, not companies.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    I think that another expression is "to go into administration".
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    .
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