Liquidation is a process that no business wants to come to, and represents the closure of a business, at which time the assets are sold off and the money is used to meet the debts, or at least to the extent that the debts can be met.

There is a fairly complicated tiered structure that varies from country to country on how the money is given out based on difference preference levels, invariably with ordinary shareholders at the bottom and therefore least likely to get money back.

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