I suggest that if it's at all possible, try to recycle or preserve the work you've already done so you might derive some value from it.

For example, if it's a web site/application/service, can you maintain it in a minimal and economical way, such as moving to shared hosting from more expensive options? In this case you may find that traffic grows as more users find the site, or you may come up with some new ideas after taking a break, etc. Perhaps you can scale back or put a new twist on your original concept.

At minimum it could be a portfolio site or demo app when seeking out client work to pay the bills.

Of course this all depends on the nature of the failure and your particular circumstances.

I haven't burned many bridges in life, but I do regret some I've allowed to rot and fall away.