2 definitions found From The Collaborative International Dictionary of English v.0.48 [gcide]: belly up \bel"ly up`\, belly-up \bel"ly-up`\, a. [from analogy to the position of a floating dead fish.] defunct; bankrupt; -- used mostly of commercial organizations; often used in the phrase {go belly-up}, i. e. to go bankrupt. [PJC] From WordNet (r) 2.0 [wn]: belly-up adj : financially ruined; "a bankrupt company"; "the company went belly-up" [syn: {bankrupt}, {belly-up(p)}]
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