liquidation
nounUK /ˌlɪkwɪˈdeɪʃən/
US /ˌlɪkwɪˈdeɪʃən/
The act of closing a business and selling everything it owns to pay what it owes.
The struggling store went into liquidation after failing to find a buyer.
RELATED WORDS
OTHER MEANINGS
2. The process of turning something into cash by selling it.
The liquidation of the company's stock raised enough money to cover its debts.
3. The act of getting rid of something completely, such as a person or problem.
The dictator ordered the liquidation of his political rivals.
4. The payment of a debt or settlement of an obligation.
Liquidation of the loan was completed ahead of schedule.