going under

Going under refers to sinking below a surface, or figuratively, to financial collapse or failure. A business that's ‘going under’ is approaching bankruptcy despite rescue attempts. A person ‘going under’ might be overwhelmed by circumstances—depression, debt, or overwork. The nautical origin—a ship going under water—makes the phrase visceral and emphasizes finality. People ‘go under’ in water, literally drowning; economically, going under is financial drowning. The metaphor suggests loss of control; going under happens TO you, not something you choose. The phrase implies rapid descent—once you start going under, the momentum accelerates.