Source : Webster's Revised Unabridged Dictionary (1913)

Shipwreck \Ship"wreck`\, v. t. [imp. & p. p. {Shipwrecked}; p.
   pr. & vb. n. {Shipwrecking}.]
   1. To destroy, as a ship at sea, by running ashore or on
      rocks or sandbanks, or by the force of wind and waves in a
      tempest.

            Shipwrecking storms and direful thunders break.
                                                  --Shak.

   2. To cause to experience shipwreck, as sailors or
      passengers. Hence, to cause to suffer some disaster or
      loss; to destroy or ruin, as if by shipwreck; to wreck;
      as, to shipwreck a business. --Addison.