ESL Podcast 336 – Going Out of Business

http://www.eslpod.com/website/show_podcast.php?issue_id=4725242

Audio Index:
Slow dialog: 1:26
Explanations: 3:23
Fast dialog: 14:34

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Julianne: I'm really glad to be back in Macville. What happened to the market that used to be here?

Helio: Oh, it went belly up. It struggled for many years. The owners tried to downsize and reduced the space they were renting, but they had to throw in the towel when they got into debt.

Julianne: What a shame! It was such a nice store, and the family who owned it was always so friendly.

Helio: Yeah, things have changed a lot around here.

Julianne: Where is the restaurant that was next to the market? I used to eat lunch there all the time.

Helio: The owners couldn't make it profitable and after trying to get loans to bail themselves out, they ran out of options. They had to pack it in.

Julianne: What's happening here?

Helio: The gift shop is going out of business. It's having a big sale to liquidate the store. The owners lost their lease and have to close. This store has been in the family for generations, but the property owners want to tear down the building for a parking lot.

Julianne: A parking lot? For what? With this economic downturn and all of these businesses going bankrupt, who will want to park here?

Helio: Your guess is as good as mine.


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- to go out of business : to close the business
- to go belly up : to fail at business ( to go out of business)
- to throw in the towel : to give up
- to be in debt
- to get loans : to get money from bank and return it latter with small interest
- to bail themself out : to get out of difficult situation (because you don't have enough money)
- to liquidate the store : to sell everything that a business owns because it's going to get ouf of business and it needs money as much as possible
- to tear sth down : to destroy sth
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Thanks,
Duy Lam