Closeout Sale
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A Closeout Sale is a final discount and allowances or final liquidation of product before being sold to a third party company.
- AKA: Closeout, Going-out-of-business Sale, Clearance.
- …
- Counter-Example(s)
- See: Inventory, Sales, Retailer.
References
2016
- (Wikipedia, 2016) ⇒ http://en.wikipedia.org/wiki/ Retrieved 2016-11-06
- A closeout sale is the final sale of an item either by a retailer or sell off of a retailer inventory to a 3rd party company. It may be a given model of item that is not selling well, or in the case of the final closure of a retailer because of a relocation, a fire (fire sale), extra inventory or especially because of a bankruptcy.[1] 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. However, often it's companies that can't sell their inventory, inventors that had a bad idea or businesses that are looking for fast cash flow to pay their bills such as payroll, etc.