liquidate
verb
uk/ˈlɪkwɪdeɪt/ us [ I or T ] LAW, FINANCE
if a business liquidates or is liquidated, it is closed so that its assets can be sold to pay its debts:
The only way for management to return value to shareholders in the short term is to liquidate the company and return the cash.
As the customer of a brokerage that's being liquidated, you should receive a warning in the mail or see notices in the newspaper.
[ T ] ACCOUNTING, FINANCE
to sell something in order to get cash:
She liquidated the stock and pulled about $10,000 from savings to pay off her debt.
In the event of a reclamation, the Fund may liquidate sufficient shares from a shareholder's account to reimburse the government or the private source.
[ T ] ACCOUNTING, FINANCE
to pay off a debt:
They were required to liquidate the debt within 30 days of the date due.