To go up (or under), verb. phr. (colloquial).—1. To go to wreck and
ruin; to become bankrupt; to disappear from society. Also, to die. For
synonyms, see Deadbroke.
1864. The Index, June. Soon after the blockade, many thought we
should go up on the salt question.
1879. Jas. Payn, High Spirits (Finding His Level). Poor John
Weybridge, Esq., became as friendless as penniless, and eventually
went under, and was heard of no more.
1890. Pall Mall Gaz., 29 May, p. 5, c. 1. He asks us further to
state that the strike is completely at an end, the society having
gone under.