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Individuals, partnerships or corporations can liquidate assets.
The last step in the effort to repay debt in bankruptcy is usually to liquidate everything.Here's how liquidation works in the case of bankruptcy.Individuals To file Chapter 7, the debtor files a petition with the local bankruptcy court.VDC Canada has grown to be one of the largest Canadian Liquidators that specializes in inventory acquisitions from many retailers, manufacturers, and distributors.Wholesale Liquidation of many inventories can be purchased for Online Retailers, e Bay stores, Amazon stores, Shopify stores and Discount Liquidation brick and mortar stores.
In many cases, unsecured bondholders receive only pennies on the dollar. Liquidation is usually the last step in the effort to repay debt.