Usually means: Fail financially; cease to operate.
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We found 17 dictionaries that define the word go under:

General (14 matching dictionaries)
  1. go under: Merriam-Webster
  2. go under: Oxford Learner's Dictionaries
  3. go under: Collins English Dictionary
  4. go under: Vocabulary.com
  5. go under: Cambridge Advanced Learner's Dictionary
  6. go under: Wiktionary
  7. go under: Dictionary.com
  8. go under: Rhymezone
  9. go under: FreeDictionary.org
  10. go under: Mnemonic Dictionary
  11. go under: TheFreeDictionary.com
  12. go under: Longman Dictionary of Contemporary English

Business (1 matching dictionary)
  1. go under: Legal dictionary

Computing (1 matching dictionary)
  1. go under: Encyclopedia

Slang (1 matching dictionary)
  1. go under: Green’s Dictionary of Slang

Definitions from Wiktionary (go under)

verb:  To descend into a body of water; to founder.
verb:  (idiomatic) To collapse or fail, e.g. by going bankrupt.
verb:  (idiomatic) To die.
verb:  (idiomatic) To be named; to call oneself.
verb:  To enter a trance, state of hypnosis, etc.
verb:  (slang, Australia) To be imprisoned.

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