insolvency
noun /ɪnˈsɒlvənsi/
/ɪnˈsɑːlvənsi/
[uncountable, countable] (plural insolvencies)
- the state of not having enough money to pay what you owe; an occasion when this happens synonym bankruptcy
- The company is close to insolvency.
- UK food suppliers said they expected more insolvencies in their sector this year.