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bankrupt

English translation: was taken over

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11:13 May 24, 2005
English to English translations [PRO]
Other
English term or phrase: bankrupt
If acompany lost a lot of money and cannot maintain normal operation. Then it was bought by another man and the former boss and former staff left the company. After that it has operated at a much smaller scale with the new boss and his new staffl but still maintaining its former name.

How to describe this process. Can we say the company went bankrupt? But it still exists. :-)

Thank you in advance!
xxxenvirostuden
English translation:was taken over
Explanation:
As you explain it, it is not clear whether the company actually went bankrupt or not. Bankruptcy is a legal procedure which the company would have to go through to avoid payment of its debts. But it could have sold out to someone else before reaching this stage, in which case I would say it was taken over.
Selected response from:

Jack Doughty
United Kingdom
Local time: 10:42
Grading comment
Thank you all for help!
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +7restructured
PAS
5 +5no..bankruptcy is a legal process
airmailrpl
3 +5was taken over
Jack Doughty
4 +1The company was not breaking evenLoubna Benkirane
4 +1recovery efforts of a distressed business
Charlesp
4make-over
petya yakova
4bankrupt // bankrupt reorganization
Michael Powers (PhD)
4the company remains in existence but is hanging by a threadRHELLER
4sick, in the red
Balasubramaniam L.
3Take overclarn


  

Answers


2 mins   confidence: Answerer confidence 5/5 peer agreement (net): +5
no..bankruptcy is a legal process


Explanation:
Can we say the company went bankrupt?..> no..bankruptcy is a legal process

airmailrpl
Brazil
Local time: 06:42
Native speaker of: Native in EnglishEnglish, Native in PortuguesePortuguese
PRO pts in category: 52

Peer comments on this answer (and responses from the answerer)
agree  Loubna Benkirane
7 mins
  -> thank you

agree  Alp Berker
1 hr
  ->  thank you

agree  RHELLER
3 hrs
  ->  thank you

agree  Can Altinbay: Nothing in the description says anything about the company declaring bankruptcy.
4 hrs
  ->  thank you

agree  conejo
9 hrs
  ->  thank you
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1 min   confidence: Answerer confidence 4/5Answerer confidence 4/5
bankrupt // bankrupt reorganization


Explanation:
Mike :)

--------------------------------------------------
Note added at 3 mins (2005-05-24 11:17:24 GMT)
--------------------------------------------------

\"bankruptcy: 1. The statutory procedure, usually triggered by insolvency, by which a person is relieved of most debts and undetgoes a judicially supervised reorganization or liquidation for the brnfit of that person\'screditors; for various types of bankruptcy under federa law ...\" It is divided into different chapters.

Michael Powers (PhD)
United States
Local time: 05:42
Native speaker of: Native in EnglishEnglish
PRO pts in category: 50
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5 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +5
was taken over


Explanation:
As you explain it, it is not clear whether the company actually went bankrupt or not. Bankruptcy is a legal procedure which the company would have to go through to avoid payment of its debts. But it could have sold out to someone else before reaching this stage, in which case I would say it was taken over.

Jack Doughty
United Kingdom
Local time: 10:42
Native speaker of: Native in EnglishEnglish
PRO pts in category: 268
Grading comment
Thank you all for help!

Peer comments on this answer (and responses from the answerer)
agree  Mikhail Kropotov: It **may/would have gone** bankrupt if not for the takeover. In other words, it was simply sold!
4 mins
  -> Thank you. Exactly. If it was just sold, that would be at its own initiative. Or it could have been a hostile takeover. As so often, the context is insufficient to be sure which term applies.

agree  Balasubramaniam L.: Or it was simply "bought" by someone else who thought he could manage it better.
32 mins
  -> Thank you.

agree  Alp Berker
1 hr
  -> Thank you.

agree  jrb: yes, making it clear in the context that it was due to the company having struggled/made a loss
3 hrs
  -> Thank you. As I said earlier, insufficient context.

agree  Can Altinbay: Nothing in the description says anything about the company declaring bankruptcy. It was definitely taken over, or bought.
4 hrs
  -> Thank you. Yes, there are several pssibilities but bankrupt is not really one of them, from the evidence of what context there is.
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8 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
The company was not breaking even


Explanation:
Bankrupcy is court decision. Very legal. I prefer to use the Break even. A company is said to break even, when it can pay all salaries & costs. In this case the company is not breaking even.

Loubna.

Loubna Benkirane
Local time: 11:42
Native speaker of: Native in ArabicArabic, Native in FrenchFrench

Peer comments on this answer (and responses from the answerer)
agree  Can Altinbay
4 hrs
  -> thank you :)
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10 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +7
restructured


Explanation:
is what I would say. If the company has retained the name, then it probably wasn't closed down. Old employees have been replaced with new, there is a new boss.
That looks like (heavy, throrough) restructuring to me.

PAS
Local time: 11:42
Native speaker of: Native in PolishPolish
PRO pts in category: 4

Peer comments on this answer (and responses from the answerer)
agree  Angie Garbarino
16 mins
  -> thanks

agree  rangepost
24 mins
  -> thanks

agree  Balasubramaniam L.: Only that restructuring does not necessarily imply ownership change.
26 mins
  -> well, let the lawyers argue that ;-). For me, the key piece of information is that the name hasn't changed, so its legal status prbably hasn't either.

agree  Alp Berker
1 hr
  -> thanks

agree  Can Altinbay: Yes, the text says that the company restructured. See also my other notes.
4 hrs
  -> thanks

agree  xxxAlfa Trans
5 hrs
  -> thanks

agree  conejo
9 hrs
  -> thanks to all.
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17 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
Take over


Explanation:
Sounds like a take over, although as it is now on a smaller scale I am not certain. Definitely legal

clarn
United States
Local time: 05:42
Native speaker of: Native in EnglishEnglish
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18 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
sick, in the red


Explanation:
A company exhibiting symptoms like the one you have described would be termed a "sick" company.

Another term that you could use is, "it was in the red", meaning it was incurring losses.

It was bought over by someone who "down-sized" it, meaning reduced its staff-strength and scale of operations, and applying stringent "cost-cutting" methods and perhaps "professional" management inputs, "brought it around" or "effected a turn-around", or "reversed its fortunes" or "brought it back in the black".

No it did not go "bankrupt" or "insolvent" or "bust", which all have legal connotations.

Balasubramaniam L.
India
Local time: 15:12
Native speaker of: Native in HindiHindi
PRO pts in category: 28

Peer comments on this answer (and responses from the answerer)
neutral  RHELLER: sick? company
3 hrs

neutral  jrb: some of these expressions aren't quite right
3 hrs
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1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
recovery efforts of a distressed business


Explanation:
unless it is under court protection against creditors, it aint bankrupt (even if its business concept might be).

Charlesp
Sweden
Local time: 11:42
Native speaker of: English
PRO pts in category: 4

Peer comments on this answer (and responses from the answerer)
agree  Can Altinbay: Not a bad summary.
2 hrs
  -> thanks
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3 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
make-over


Explanation:
as the company still exsists I would suggest the term: company make-over

petya yakova
Bulgaria
Local time: 12:42
Native speaker of: Native in BulgarianBulgarian
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3 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
the company remains in existence but is hanging by a thread


Explanation:
this is a story and one word will not do

bankrupt has a specific meaning, as my colleagues have already mentioned

After losing a lot of money, the company was bought and all new staff was brought in/the staff was replaced. It continues to operate at a much smaller scale.

RHELLER
United States
Local time: 03:42
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 101
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