Emailing a company about an old job offer/interview

Back in 2017, I got an email from a reputable company offering an interview for a job position. Problem was, when they emailed, I was one month in of my newly opened business, and I never replied back to them. Fast forward to late 2020, I went out of business due to covid-19 outbreak, and out of a job.

Would it be a bad idea to contact the company of the old offer, and just explain briefly and honestly about why I never replied and see if they have an opening? Am I wasting each other's time? Any employers perspective? Thanks for reading.

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