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The process of closing down a business and disposing of its assets. This may be done by selling it to a new owner as a going concern, or by selling off the various assets separately. The aim of liquidation is to produce as large as possible a sum of money, which can be used to pay off existing debts of the business, any remaining surplus being available for distribution to the owners or shareholders.
From: liquidation in A Dictionary of Economics »
Subjects: Economics.
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