[go] out of business

to cease to exist as a functional company or business due to financial challenges or difficulties

The idiom "go out of business" is a straightforward expression that originates from the world of commerce and trade. This phrase is used to describe the closure or cessation of operations of a business or company, often due to financial difficulties, lack of profitability, or other reasons.

After decades of operation, the family-owned bookstore had to go out of business due to competition from online retailers.
Despite efforts to revitalize the company, it was forced to go out of business, unable to recover from financial losses.
The economic recession caused many businesses to go out of business, leading to job losses and financial hardship.
The small restaurant went out of business after it struggled to attract enough customers to sustain its operations.