What does "Bankrupt" status mean?

Name: Company Data: บริษัท ไทยบัวหลวง ก่อสร้าง จำกัด
Creator: ThaiBizIndex
License: https://www.thaibizindex.com/disclaimer

Question

Accepted Answer

"Bankrupt" means the company has been declared bankrupt by the court due to insolvency.