go belly-up

From the tendency of fishes to float upside down when they die.

go belly-up (third-person singular simple present goes belly-up, present participle going belly-up, simple past went belly-up, past participle gone belly-up)

1. To die.
2. To fail or fold; especially, to close or shut down a business; to go out of business.

   I was sorry to hear that my favorite little restaurant went belly-up.

• go bankrupt