be put out of business

To be caused or forced to cease carrying on commercial trading or transactions. Our bookstore has been a part of the neighborhood for nearly 50 years, but we're being put out of business by these new electronic books that you can download. I hear that Mike's company has been put out of business due to allegations of insider trading. A: "That company's already been put out of business?" B: "Yep, due to several exorbitantly costly mistakes, I hear."