Definitions

1. noun

the final sale of remaining stock, especially at a reduced price, to get rid of it

“The company held a closeout sale to clear out their inventory before the holiday season.”

2. verb

to sell or dispose of remaining stock, especially at a reduced price

“The store will closeout the old furniture to make room for new merchandise.”

3. verb

to bring to a close or conclusion

“The event will closeout the music festival’s final performance.”

4. verb

to eliminate or get rid of something

“The company will closeout its old software to transition to a new system.”