close-downnoun [ C or U ]
also close down, closedown ukusthe act or process of ending the operations of a business, system, industry, etc. either temporarily or permanently:
The partial government close-down is now in a record 20th day.
See also
shutdown
ACCOUNTING the act of ending the payment of invoices for a particular month or the date this happens, so that any invoices received after this date are not processed until the following month:
Monthly close down of costs will usually occur at the end of each calendar month.
Be aware that without forward planning the Christmas close-down period can delay payment by 28 days.