Definition of "closeout" [closeout]

• A sale in which all remaining stock is disposed of, usually at greatly reduced prices. (noun)

American Heritage(R) Dictionary of the English Language, Fifth Edition. Copyright (c) 2011 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

• "Overstock, based in Salt Lake City, is an online "closeout" retailer offering discount brand-name merchandise to its customers."
• "The ramp repair can clearly be seen in "closeout" photos taken of the tank before launch as an area where the newly-exposed foam is slightly lighter in color."
• "The worry is that all these FEMA dollars that come to CNO thru state will have to be accounted for in a process known as 'closeout' where expenditures deemed ineligible can be negated and the city made responsible for returning the payments."