It's difficult to answer this with 100% certainty, without knowing the context in which you read it. I would probably guess it was referring to fight or struggle of some kind though, and in which case it means to "give up" or "admit defeat".

In different sports it means to Give Up :)

Literally it means to surrender to an opponent in a grappling sport, but metaphorically it means to give up or quit doing something that is difficult.