Definition, Meaning & Synonyms
out-of-business
adjective
/ˈaʊt əv ˈbɪznəs/
Definition
A term used to describe a company or enterprise that has ceased operations and is no longer capable of providing goods or services.
Examples
- Due to the economic downturn, several stores in the mall went out-of-business.
- After years of struggling, the restaurant announced that it was officially out-of-business.
Meaning
When a business is out-of-business, it indicates that it has failed or closed down, typically due to financial difficulties, bankruptcy, or a lack of demand for its products or services.
Synonyms
- closed
- defunct
- bankrupt
- shut down
- non-operational
