go out of business

Definition & Meaning of "[go] out of business"

to go out of business

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

What is the origin of the idiom "go out of business" and when to use it?

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.

Example

When our main competitor went out of business, the market segment was there for the taking.

After decades of operation, the family-owned bookstore had to go out of business due to competition from online retailers.

The economic recession caused many businesses to go out of business, leading to job losses and financial hardship.

The company's monopoly in the industry put its competitors over a barrel, giving them no choice but to accept unfair business terms or risk going out of business.

The company experienced a setback when their main supplier went out of business.