Discuss and learn French: French vocabulary, French grammar, French culture etc.
The distinction is explained here:(I couldn't vouch for it personally or say how often banqueroute is used)
Hi Alan, hi george.
“Banqueroute” and “faillite” are completely synonyms.
In French newspapers, the “banqueroute” is rather used concerning a country who is not able to pay his obligations. The word “faillite” is rather used for a firm, a company. However, the second can be used instead of the first.
( Pay attention to the title, please... )