Longman Dictionary of Contemporary English homepage

liquidation

 noun
     
Related topics: Loans
liq‧ui‧da‧tion [uncountable and countable]
1BFL the act of closing a company by selling the things that belong to it, in order to pay its debts:
Hundreds of small businesses went into liquidation (=were closed).
2BFL the act of paying a debt
Definition from the Longman Dictionary of Contemporary English
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