liq ‧ ui ‧ da ‧ tion /ˌlɪkwəˈdeɪʃ ə n, ˌlɪkwɪˈdeɪʃ ə n/ BrE AmE noun [uncountable and countable]
1 . the act of closing a company by selling the things that belong to it, in order to pay its debts:
Hundreds of small businesses went into liquidation (=were closed) .
2 . the act of paying a debt