Are there any differences between "To go out of business" and "To go bankrupt"?
Are there any differences between "To go out of business" and "To go bankrupt"?.
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Are there any differences between "To go out of business" and "To go bankrupt"?
Are there any differences between "To go out of business" and "To go bankrupt"?.
To go out of business is when a business, store, etc. closes, usually because of financial difficulties.
Anybody can go bankrupt (high debts, loss of job, unable to acquire income); there are different types of bankruptcy, but typically all of your debts are erased, and you sort of 'start over' financially.
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