What does "Not interested in selling up" mean?

[Tomato Can]

When a company is waaaay in the red financially, they often will respond to a take over attempt with "not in bad enough financial position" and not be willing to sell, but when a company in very bad financial situation says "___ is not interested in selling up" what does that mean? I understand when they do not want to sell to a smaller company, but "selling up???

[Bull]

I think that is simply the owner not wanting to sell, as in they'd rather go down with the ship than let someone else save it. .

[Makhai]

People forget that Adam is from across the pond. - sell up. British. : to sell one's possessions, business, etc., especially in order to move away.

 

They were forced to sell up and go out of business.

[Eastshire]

Who knew? I've never heard that one before.

[Gabriel]

I'm not sure if it works the same in 2020, but the only time that I ever got that message was when I was trying to purchase a company that was more popular than my own.

 

I believe the meaning is that the company does not want to sell to someone they deem beneath them, and would rather wait for a better deal or sink the ship.

[neslo024]

I always took it as a company that has more popularity in their region than you do and are bigger in general ( I ran into this recently trying to purchase a regional company with my small company in 2016 but once I went to regional they sold to me) and don't want to give you their popularity when you shut them down.