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1. [intransitive] COMMERCE if a business fails, it is not successful and loses so much money that it has to close:
• The company failed amid charges that the chairman had stolen $17 million.
• More than 10,000 companies failed with debts of more than 10 million yen.
— failed adjective [only before a noun] :• the failed Bank of Credit & Commerce International
2. [intransitive] if something you try to do fails, it is not successful:• A move to vote the chairman off the Bell Resources board failed.
fail to do something• A salesman may communicate perfectly well with a customer but fail to make a sale.
— failed adjective [only before a noun] :• The firm collapsed after a failed bid for a rival insurer.
3. [intransitive] if something fails to happen, it does not happen, although you expected or wanted it to:fail to do something• The new projects have failed to gain general acceptance from the board.
• If the recovery fails to cut the deficit sharply, a rise in taxes will be needed.
4. [intransitive] MANUFACTURING if equipment or a machine fails, it stops working because there is a fault• The corn harvest failed after a terrible drought.
• The railway line failed its Board of Trade inspection earlier this year.
Financial and business terms. 2012.