Butikken kan gå konkurs.

Butikken is the definite singular form of butikk, which means shop/store.

• en butikk = a shop / a store
• butikken = the shop / the store

The ending -en works like English the for many masculine nouns.

Kan is the present tense of kunne, and here it means can / may / might, depending on context.

In Butikken kan gå konkurs, it usually expresses possibility:

• The store can go bankrupt
• The store may go bankrupt
• The store might go bankrupt

So it is not necessarily about ability. It is more about what is possible.

After a modal verb like kan, Norwegian normally uses the infinitive without å.

So:

• kan gå = can go
• skal gå = will / shall go
• må gå = must go

Compare:

• Jeg vil gå. = I want to go.
• Jeg liker å gå. = I like to walk / go.

With like, you need å. With kan, you do not.

Yes, word-for-word it is close to go bankrupt / go into bankruptcy.

This is a fixed Norwegian expression:

• gå konkurs = go bankrupt
• selskapet gikk konkurs = the company went bankrupt

Even though gå usually means go or walk, in this expression it works idiomatically, just like English go bankrupt.

Because gå konkurs is an established expression, and konkurs is used without the definite article here.

This is similar to English:

• go bankrupt, not go the bankrupt

So:

• gå konkurs = go bankrupt
• være i konkurs = be in bankruptcy / be bankrupt in a more formal sense

Not exactly.

• gå konkurs focuses on the process/event: to go bankrupt
• være konkurs focuses on the state/result: to be bankrupt

Examples:

• Butikken kan gå konkurs. = The store may go bankrupt.
• Butikken er konkurs. = The store is bankrupt.

This is normal Norwegian main-clause word order:

subject + finite verb + infinitive + rest

Here:

• Butikken = subject
• kan = finite verb
• gå = infinitive
• konkurs = part of the expression

Norwegian usually puts the finite verb in the second position in main clauses.

Yes. That makes it a question:

• Butikken kan gå konkurs. = The store may go bankrupt.
• Kan butikken gå konkurs? = Can / May the store go bankrupt?

The only change is that the finite verb kan moves before the subject.

In standard Bokmål, butikk is usually treated as a masculine noun:

• en butikk
• butikken

Some Norwegian nouns can vary by dialect or personal style, but for learners, en butikk / butikken is the normal form to learn.

Yes. Even though kan is present tense, the sentence often refers to a future possibility.

• Butikken kan gå konkurs.
  = The store may go bankrupt.
  = It is possible that the store will go bankrupt.

Norwegian often uses present-tense forms to talk about future situations when the meaning is clear from context.

You would usually change kan to kunne if you want a past possibility, or use gikk konkurs if it actually happened.

Examples:

• Butikken kunne gå konkurs. = The store could/might go bankrupt.
• Butikken gikk konkurs. = The store went bankrupt.

So kunne keeps the idea of possibility, while gikk konkurs states the event as a fact.

Either can work. Butikk can mean both shop and store.

Which English word sounds better depends on the variety of English and the situation:

• British English often prefers shop
• American English often prefers store

So Butikken kan gå konkurs can naturally be understood as either:

• The shop may go bankrupt
• The store may go bankrupt

A few common patterns are:

• gå konkurs = go bankrupt
• være konkurs = be bankrupt
• et konkursbo = a bankruptcy estate
• konkursen = the bankruptcy

Examples:

• Firmaet gikk konkurs i fjor. = The company went bankrupt last year.
• De frykter at bedriften kan gå konkurs. = They fear that the business may go bankrupt.
• Etter konkursen mistet mange jobben. = After the bankruptcy, many lost their jobs.

So in your sentence, konkurs is part of a very common and useful expression.