Meaning of closeout

close•out

Pronunciation: (klōz'out"), [key]
— n.
  1. a sale on all goods in liquidating a business.
  2. a sale on goods of a type that will no longer be carried by the store.
  3. an article of merchandise offered for sale at a closeout.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.
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