Meaning of the word "go down the tubes" in English

What does "go down the tubes" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

go down the tubes

US /ɡoʊ daʊn ðə tuːbz/
UK /ɡəʊ daʊn ðə tjuːbz/
"go down the tubes" picture

Idiom

to fail completely or be ruined

Example:
The company started to go down the tubes after the scandal.
If we don't fix this problem, our whole plan will go down the tubes.