Hit The Skids

Used as a noun, a skid is a group of planks used to support something.

Used as a verb, to skid is to fail to grip the roadway.

Any of you OEDers out there have an explanation as to why "hit the skids" means a losing streak?

I think (with not too much confidence) that this is a US expression. 'Skid Row' is a metaphor for being destitute (don't know why) so I assume 'hitting the skids' might derive from this. Again, I stand to be corrected.

DFG

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