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'
(..) ARE YOU TALKING TO ME?!? Now they're in for it. THEY CALL ME.. MISTER PIIIG! AAAAAAAAAAA-- Take that! And that! Ow ow ow ow ow ow ow... Take that! And that! You yellow belly... Take that, you stupid... Murderer. Simba, Simba. Please. Please have mercy. I beg you. You don't deserve to live. (..)1994 The Lion King