sinking ship(redirected from it's a sinking ship)
A foundering organization or entity. After all of the recent layoffs, most consider the company a sinking ship.
Farlex Dictionary of Idioms. © 2015 Farlex, Inc, all rights reserved.
a sinking ship
If an organization or cause is a sinking ship, it is failing and unlikely to recover. Insiders regard the company as a sinking ship. Note: You can also say that someone abandons, deserts or leaves a sinking ship, to mean that they leave an organization or activity which is about to fail. I know some people will say that I am leaving a sinking ship. He seems to be suggesting that we're deserting a sinking ship, but that's not the case. Compare with like rats deserting a sinking ship.
Collins COBUILD Idioms Dictionary, 3rd ed. © HarperCollins Publishers 2012