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faillite

bankruptcy

noun fah-EET Rare

Origin: From Italian fallita, from fallire ('to fail').

Also means

failure

Usage Note

Faillite is primarily a legal term for insolvency: déposer le bilan is the formal act, while faire faillite means 'to go bankrupt'. Figuratively, une faillite morale means 'a moral failure'. The 't' is silent.

Examples

"L'entreprise a déclaré faillite."

Natural Translation

The company declared bankruptcy.

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