fire sale

Popular Terms
Liquidation of a firm's assets at prices far below their fair market value (FMV) to achieve a quick sale, either to avoid a financial disaster or to satisfy the debts of an insolvent or bankrupt firm. Banks and other lenders usually value a firm assets at their fire sale value to judge their worth as collateral.

Use 'fire sale' in a Sentence

The fire sale was going on, so we rushed to the store to get some of the amazing prices being offered.
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You may need to have a fire sale and get rid of everything if you need to change the location of your business.
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If you need more room on your shelves for a new product you may need to have a fire sale for your old products.
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