1. To die. Primarily heard in Australia, New Zealand. If people start to go bung, then we've got a real health crisis on our hands.
2. To fall apart or fail, especially financially. Primarily heard in Australia, New Zealand. Our business will go bung if we don't make some big sales this quarter.
go bung1 die. 2 fail or go bankrupt. Australian & New Zealand informal
In this sense bung comes from Yagara, an extinct Aboriginal language.
2 1951 J. Devanny Travel in North Queensland ‘The stations would go bung without the Abos’, one of the missionaries told me.