Meaning of the word liquidation in English

What does liquidation mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

liquidation

US /ˌlɪk.wəˈdeɪ.ʃən/
UK /ˌlɪk.wəˈdeɪ.ʃən/

Noun

1.

the process of closing a business and selling its assets to pay its debts

Example:
The company went into liquidation after failing to secure new funding.
The court ordered the liquidation of the bankrupt firm.
2.

the act of killing or eliminating someone or something, especially in a violent manner

Example:
The crime boss ordered the liquidation of his rivals.
The dictator was known for the brutal liquidation of political opponents.