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The paper presents a simple approximate analytical solution of the remote stresses that cause the collapse of a borehole or other circular cylindrical cavity in an infinite elastic space. Regions of parallel equidistant splitting cracks are assumed to form on the sides of the cavity. Their boundary is assumed to be an eIlipse of a growing horizontal axis, the other axis remaining equal to the borehole diameter. The slabs of rock between the splitting cracks are assumed to buckle as slender columns, and their post-critical stress is considered as the residual stress in the cracked rock. The buckling of these slab columns is assumed to be resisted not only by their elastic bending stiffness but also shear stresses produced on rough crack faces by relative shear displacements. The energy release from the infinite medium'-caused by the growth of the eIliptical cracking region is evaluated according to Eschelby's theorem. This release is set equal to the energy dissipated by the formation of alI the splitting cracks, which is calculated under the assumption of constant fracture energy. This yields the collapse stress as a function of the elastic moduli, fracture energy, ratio of the remote principal stresses, crack shear resistance characteristic and borehole diameter. The collapse stress as a function of crack spacing is found to have a minimum, and the correct crack spacing is determined from this minimum. For small enough diameters, the crack spacing increases as the (4/5)-power of the borehole diameter, while for large enough diameters a constant spacing is approached. In contrast to plastic solutions