Closeout From Wikipedia, the free encyclopedia
A
closeout or clearance is the final sale of an item or items to zero
inventory. It may be a given model of item that it not selling well, or in
the case of the final closure of a retailer because of a relocation, a
fire (fire sale), or especially because of a bankruptcy. In the latter
case, it is usually known as a going-out-of-business sale, and is part of
a liquidation. A "hail sale" is a closeout at a car dealership after hail
damage. Often, when the store is shutting down, they let people know that
this is their last chance to buy the merchandise.
