The term "being broke" is more common in private life when it comes to nothing working financially anymore. A bankruptcy synonym means the same as saying that your wallet is completely empty. The company has crashed or personal insolvency looms. The bills can no longer be paid and the payment demands pile up like marbles in the drawer.

Bankruptcy synonym is certainly the stylistically more fitting term, but it says the same thing:

  • broke
  • insolvent
  • unable to pay

Still, the term bankruptcy synonym is used in the context of business failures. Personal downfall is more often called being broke or personal bankruptcy.

Words like lead: the vulture of bankruptcy circles above me

When things get difficult, it circles in the sky. A term that used to be used more often when it came to a bankruptcy synonym.

My friend Daniela is on the verge of bankruptcy. The Corona crisis has turned out the lights on her. She owns a live music club. Emergency aid was still her hope, but time was no longer on her side. She has given up hoping that politicians will still notice her industry.

In the industry, secret events are being held and the fines accepted as a cost. She can't and won't go down that road. She has always been honest and wants to earn her money responsibly. How things will go for her personally, she doesn't know. She has already considered looking for a job at an insurance company. She did her training at a large insurance group.

Necessity is the mother of invention!

My brother was hit as well. Suddenly his hair salon went downhill. The shutdown was over, so to speak, and many of his customers come less often. Some of his female clients color their hair themselves and he has the impression that hair is simply allowed to be a bit longer these days. He can't explain why it is so drastic.

He loves fashion and went looking for interesting designers. He found three and in short order turned his shop into a concept store. So now he sells fashion and cuts hair. On Saturdays his shop is open only for shopping. At the same time he opened an online store. In short: after just eight weeks his sales have risen markedly again.

He now wants to expand with small furniture and so on. He has the space. He took out four chairs and unfortunately let two of his stylists go. He kept the part-timer and is handling it alone for now. Necessity is simply the mother of invention. Ultimately every crisis holds an opportunity, or let's rather say: almost every crisis!