Learn Italian: Pur ignorando le critiche, stanno rischiando il fallimento. - Even while ignoring the criticism, they are risking failure.

The word pur combined with a present gerund (like ignorando) creates an implicit concessive clause. It translates to "even while ignoring" or "even though they ignore". You can only use this convenient, shortened structure when the subject of both halves of the sentence is the same (in this case, "they" are ignoring and "they" are risking).

We have two words ending in -ando here (ignorando and rischiando). Are they doing the same job?

No, they serve completely different purposes here! Ignorando is used with pur to create the "even though" condition. Rischiando, on the other hand, is paired with the auxiliary verb stare (stanno) to form the present continuous tense, meaning "they are risking" right at this moment.

Why is le critiche plural when the English translation says "criticism" (singular)?

In English, "criticism" is usually an uncountable, abstract noun. In Italian, la critica is countable (meaning a specific critique or review). When referring to general criticism coming from multiple sources, Italian naturally uses the plural form: le critiche.

Does il fallimento just mean "the failure"?

It does mean "failure" in a broad sense, but it is also the specific Italian word for "bankruptcy". Depending on the wider context of this sentence, these people might be risking the failure of a project, or their company might be facing total financial bankruptcy.