To cancel on a previously agreed to social engagement at the last minute. This is analogous to standing up a date but applies more to friends and couples who have made plans together.
Also, a hinker routinely cancels at the last minute. My parents introduced me to this term in the 1970s. They used it among their friends who were all stationed in Germany with the US Air Force in the 1960s. Maybe it has a German origin??? Anyway, it is a handy word for this situation.
Helen and Barry said they were coming to dinner tonight, but they hinked at the last minute. They are such hinkers! They always hink out on us.