To go bankrupt, fail, or cease to operate (often used of businesses or ventures).
To collapse financially or be ruined.
2.
globalneutralinformal
To lie with the belly upward; to be dead or incapacitated and lying on one's back (used of animals or, figuratively, of people or objects).
3.
USUKinformalcolloquial
In the phrase 'belly up to (something)', to move up to, approach, or position oneself close to a counter, bar, or similar place, typically to take something or engage directly.