1 : a clearing out by a sale usually at reduced prices of the whole remaining stock (as of a business) 2 : an article offered or bought at a closeout. close out.

Does closeout mean final sale?

A closeout sale is the final sale of an item to clear inventory and get rid of extra stock. Most items found in closeout sales are models of items that are not selling well. However, sometimes items that do sell well are part of closeout sales should a retailer relocate, undergo extreme damage or go bankrupt.

What does account closeout mean?

to terminate (a client's or other account) on which the margin is inadequate or exhausted, usually by sale of securities to realize cash.