Ending a SIMPLE IRA Plan

Company has a Simple IRA…has had it for about 20 years. They match 3% for all of the employees that choose to participate. The last few years has been difficult, financially, for the company. They had cut back to a 1% match, to save money, the last two years. I’m under the impression that they must now go back to a 3% match. But now the company wants to shut the Simple IRA completely down, mid-year. Is the company allowed to do that? Thanks in advance for any guidance and/or suggestions.