the process of closing a business, so that its assets can be sold to pay its debts, or an instance of this

After three years of heavy losses the company went into liquidation with debts totalling £100 million. 经过三年的严重亏损，该公司进入清盘，债务总额达到1亿英镑。

The construction industry is noted for its high rate of liquidations. 建筑业以其高清盘率而闻名。