Fold Up Meaning

(idiomatic) To go out of business.

Example: 1963, Margery Allingham, chapter 19, The China Governess[1]:
  Meanwhile Nanny Broome was recovering from her initial panic and seemed anxious to make up for any kudos she might have lost, by exerting her personality to the utmost. She took the policeman's helmet and placed it on a chair, and unfolded his tunic to shake it and fold it up again for him.
  Please fold up these towels so they will fit on the shelf.‎
  That place folded up years ago.‎
  If anyone asks questions, they'll fold up faster than a gypsy roofing company.‎