go down the drain

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go down the drain

To fail; to be ruined or destroyed; to be squandered or wastefully discarded. My father's company is now going down the drain because of the incompetent new CEO. All of our savings have gone down the drain ever since Jack had his little gambling spree in Las Vegas.
See also: down, drain
References in periodicals archive ?
Her success eliminated all but one jackpot punter and that ticket also went down the drain when Macha Rua finished out of the money in the extended mile handicap won by Wayne Lordan on
Due to a global economic crisis, demand for raw materials fell and the Argentine economy went down the drain.
That all went down the drain when they announced this over the weekend," he said referring to the merger.
So far, the agency has done nothing to finalize these rules; it would be shameful if all the time and effort devoted to careful review of FDA's initial proposals went down the drain," he added.
The "key and light" that went down the drain in the beginning of Saw;
But the 33-year-old's money-making scheme went down the drain when he was spotted by a member of the public who called police.