Fold like a cheap suit

Where did the say "fold like a cheap suit" originate? And what was it's meaning? It seems now to be used when an opponent will back away and run (sports teams, politicians)

Cheap suits are normally made of thinner and poorer-quality fabric that expensive ones, do they are easier to fold. "Fold" meaning "collapse or give way under pressure" has been in use since the 16th century. Perhaps the commonest use nowadays is in card-playing; in poker, a player who "folds" gives up and withdraws from the game. (VSD)