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.