close down


phrasal verb
  1. to shut a shop, factory, or service for a long period or for ever
    ExamplesThe company is closing down its London office. • The accident closed down the station for a period.
  2. (of a shop, factory, or service)
    to stop doing business or operating

"...the best thing would be to have a few more plants close down and bring supply more in line with current demand" [Fortune]

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close corporation plan wind up