liquidation
/ˌlɪkwɪˈdeɪʃn/ (bre, ipa) · /ˌlɪkwɪˈdeɪʃn/ (ame, ipa) · /ˌlikwəˈdāshən/ (ame, mw)
liquidation — noun
- liquidationsingular
- liquidationsplural
1. the situation in which a company is forced to close and must sell its property t
the situation in which a company is forced to close and must sell its property to obtain money for the people and organizations it has not yet paid.
The Nandini family's furniture shop went into liquidation after twenty years in business.
collocation: go into liquidation
A judge ordered the liquidation of GreenValley Farms when it could not pay its bank loans.
passive: ordered the liquidation of [company]
Chidi's restaurant went into liquidation because it could not pay its food suppliers, and the kitchen equipment was sold to cover the debts.
Ananya's employer, an electronics factory, entered liquidation after falling behind on payments to its parts suppliers, and all its equipment was sold at auction.
Tamar's bakery went into liquidation, and the court appointed a liquidator to sell the ovens and delivery vans to pay the staff and flour suppliers.
- bankruptcy
Bankruptcy is the legal status of being unable to pay debts; liquidation is the actual process of selling assets, which often follows a bankruptcy declaration.
- winding up
Winding up is a British term for the same process of closing a company and settling its affairs.
- closure
Closure is a more general term for any business shutting down, without the specific meaning of selling assets to repay debts.
文法句型
[company] + go into + liquidation
order + the + liquidation + of + [company]
用法筆記
Often used with the verbs go into, enter, or face. The process is usually forced by a court or by creditors when a company cannot pay its debts, though some businesses choose voluntary liquidation to close in an orderly way.