When a business goes belly-up, it's bankrupt. When you're belly-up, you're out of business.
If you've ever had a goldfish, you probably noticed how it looked when it died: belly-up. The same term can be used for financial failures, like a store that goes out of business due to poor sales or a company that makes bad investments and has to fold. People use the term for other sorts of failures too: a sports team that misses the playoffs has gone belly-up. A failed dream has gone belly-up. Anything belly-up is finished.
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