What's the meaning

[Dany]

The late 1980's saw a sharp rise in interest rates and an equally dramatic fall in property prices, both of which contributed to a downturn in business conditions across all sectors. The toll on the region was heavy, with many businesses going to the wall and a rapid rise in unemployment. ....

Does "going to the wall" mean that many companies were going bankrupt?

Thanks a lot in advance,
Dany

[Philly]

Hi Dany
.
Yes, if a business "goes to the wall", that means it fails.
.

[Dany]

Thank you for your fast answer