Went Bankrupt is a term used to describe a situation in which an individual or business is unable to pay their debts and is declared insolvent. In this case, the crossword solutions for the term are SANK (4 letters) and FAILED (6 letters). Both of these words can be used to describe the financial state of someone who has gone bankrupt. Sank implies that the person or business has been brought down by their debts, while FAILED suggests that they have not been able to meet their obligations.