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A closeout or clearance sale (also called a closing down sale in the United Kingdom [1]) is a discount sale of inventory either by retail or wholesale. It may be that a product is not selling well, or that the retailer is closing because of relocation, a fire (a fire sale ), over-ordering, or especially because of bankruptcy . [ 2 ]
Closure may be the result of a bankruptcy, where the organization lacks sufficient funds to continue operations, as a result of the proprietor of the business dying, as a result of a business being purchased by another organization (or a competitor) and shut down as superfluous, or because it is the non-surviving entity in a corporate merger.
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Grocery store executives argued back in the 1980s that layering a bunch of process on stores shutting down would make it less likely that they'd open in the first place.
Exclusive: The banks that funded Elon Musk’s $44 billion Twitter deal may have a ‘sell-down letter’ to prevent them from breaking ranks Shawn Tully October 6, 2023 at 11:57 AM
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