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1) a person who has tried (a career etc) but failed to do well (also-ran)

Synonyms
UK
US
Meaning:
abortive

unsuccessful

failing to achieve a goal

bankrupt

unable to pay one's debts

unable to pay debts

insolvent

(a person, business) unable to pay debts

financially ruined

unsuccessful

not successful

failing

FAILED as in Wiktionary
FAILED as in Wikipedia