This is the 8270th most frequent Japanese word.
廃業
"廃業" means "closing down a business" or "ceasing operations."
The word 『廃業』 in this sentence is used to signify the cessation of the restaurant's operations or business.
彼のレストランは廃業しました。
His restaurant went out of business.
Here, 『廃業した』 describes factories that have ceased their business activities, denoting a state of inactivity.
この町にはいくつかの廃業した工場があります。
There are several defunct factories in this town.
This usage indicates the contemplation of 『廃業』 as an action to discontinue one's business activities.