How to handle accounts that go out of business or are no longer going to purchase?

How to handle accounts that go out of business or are no longer going to purchase?

How do people usually handle Accounts that go out of business, or for some other reason will never purchase again? On one hand I would like to keep the info around so we know what happened, but there isn't a built-in "Out-of-Business" or "Dead Account" status that I've found.

Thanks,

John