Yes, this can be accomplished in one of two ways.
You can make your business ‘Inactive’: With this option, you can update the status of your business from ‘Active’ to ‘Inactive’ and add a custom note informing anyone visiting your page of your current status. Whenever you are ready, you can reactivate your account just as easily.
Cancel your subscription: Alternatively, you can also choose to cancel your subscription for the time period your business will be closed. With this method, when you are ready to open your business again you will need to purchase a new subscription plan to reactivate your account.