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The Collaborative International Dictionary of English v.0.48:

Collapse \Col*lapse"\, v. i. [imp. & p. p. Collapsed; p. pr. & vb. n. Collapsing] [L. collapsus, p. p. of collabi to collapse; col- + labi to fall, slide. See Lapse.] 1. To fall together suddenly, as the sides of a hollow vessel; to close by falling or shrinking together; to have the sides or parts of (a thing) fall in together, or be crushed in together; as, a flue in the boiler of a steam engine sometimes collapses. [1913 Webster] A balloon collapses when the gas escapes from it. --Maunder. [1913 Webster] 2. To fail suddenly and completely, like something hollow when subject to too much pressure; to undergo a collapse; as, Maximilian's government collapsed soon after the French army left Mexico; many financial projects collapse after attaining some success and importance. [1913 Webster]