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What is Closeout?

A closeout or clearance sale is a sale intended to get rid of all remaining stock, either for a particular item, or the entire inventory. A closeout sale is held for similar reasons to a liquidation sale: to liquidate assets following bankruptcy, when a business relocates, or just because an item isn’t selling well, or a store wishes to get rid of old stock.

Closeout sales offer retailers, both online and offline, an oppurtunity to buy stock at very low prices that can be resold for a good profit. When buying from closeout sales, be sure to determine whether there is a strong market for the items you are buying. 

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