To shamelessly pull out of an event in which you have a vested interest and/or are expected to attend by a large number of people. This is usually done at the last minute with a lame ass excuse. Similar to bowing out but more extreme, considered extremely small time.
Dude 1: I was really looking forward to this ski trip, but where the hell is Dude 2?
Dude 3: O ye, after bigging himself up for it all this time he bower out (bowered out)