IPA: /ˈkloʊsˌdaʊn/
KK: /ˈkloʊsˌdaʊn/
A situation where a business or operation stops working or is shut down, often temporarily or permanently.
The factory's closedown affected many workers who lost their jobs.
Closedown → It is formed from "close" (from Old English "clōsan", meaning to shut) and "down" (meaning to a lower position or state). The word "closedown" refers to the act of shutting down or ceasing operations.
Think of 'shutting' ('close') something to a 'lower state' ('down') — that's why closedown means to cease operations.