The phrase “hit the skids” is an idiomatic expression that means to experience a decline or deterioration in situation, condition, or performance. It is often used to refer to a situation where someone or something is facing difficulties or is on a downward trajectory, such as financial troubles, personal difficulties, or professional setbacks.
The origin of the phrase is believed to come from the world of transportation, particularly with vehicles that slide or skid due to loss of traction. When something “hits the skids,” it suggests that it has lost control and is heading towards a problematic or unstable situation.
For example, you might say, “After the economic downturn, many businesses hit the skids and had to close their doors.” This indicates that they faced serious challenges and were unable to maintain their operations successfully.