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In United Kingdom and United States law and business, liquidation is the process by which a company (or part of a company) is brought to an end, and the assets and property of the company are redistributed.
Liquidation is also sometimes referred to as winding-up or dissolution, although dissolution technically refers to the last stage of liquidation.
These companies buy leftover inventory for a fraction of their retail value and then resell the goods in their own stores, generally for less than the full retail value, but more than they paid for them.
When a huge retailer has to close all of its stores, it liquidates everything, meaning the inventory and even the shelves and display cases are sold to bargain-hunters, to raise money for the company to pay its debts.
This is usually the case in bankruptcy liquidations.
Creditors are always senior to shareholders in receiving the corporation's assets upon winding up.
While the process of closing a business is very difficult for many reasons, it is important to make sure you get the best value for your assets, pay your employees, satisfy your creditors, and comply with state and federal laws.
When a company has more liabilities than assets, equity is negative and no liquidating distribution is made at all.
This mainly occurs during voluntary liquidations of solvent corporations.These businesses may buy a company’s entire inventory, or assets, and then sell them to other retailers.Some liquidators are retailers, too, such as Big Lots, Tuesday Morning, and Ollie’s.Liquidating Your Assets Handling Your Financial Obligations Making Your Final Distributions Community Q&A If you are faced with closing your business and you were unable to locate a buyer to purchase the business in its entirety, you should consider selling/liquidating your business’s assets.There are variety of reasons to close a business, including poor results, owner retirement or poor health, or the loss of a franchise arrangement.
The process of liquidation also arises when customs, an authority or agency in a country responsible for collecting and safeguarding customs duties, determines the final computation or ascertainment of the duties or drawback accruing on an entry.