The business 'went belly-up' [=went bankrupt] during the long recession.
The team 'went belly-up' in the play-offs.
a middle-aged man with a big 'beer belly'
(..) Oh, God. Forgive me. I'll be buying in feed before winter's over. Well, you don't press people hard, but you live rightly. For your soul, not your belly. How do we know what's rightly? Just by knowing it. How else? But I believe in reason. Reason. Was it reason that made you choose your wife? (..)2012 Anna Karenina