What is the origin of the idiom "go belly up" and when to use it?

The origin of the idiom "go belly up" is uncertain, but it may be related to the idea of a dead fish floating on its back with its belly exposed, which is a sign of death or failure. Over time, the phrase has come to be used more generally to describe any situation where a business or venture fails, often resulting in significant financial losses or bankruptcy. The phrase can also be used more broadly to describe any situation where something comes to an abrupt end or fails to meet expectations.