closeout

IPA: kɫˈoʊsaʊt

(surfing) A wave which breaks all at once, as opposed to breaking progressively along its length.
(retail) A sale in which all merchandise is sold, at whatever reduced price is necessary; especially, such a sale for the purpose of either dispensing with a discontinued product line or preparing to close down the store.

close out

IPA: kɫˈoʊsˈaʊt

(transitive) To terminate; to call the end of.
(transitive, marketing) Synonym of close (“to make a sale”)
(surfing) Of a wave, to break all at once, instead of progressively along its length.
(computing) To terminate a computer program.
(transitive) To exclude by blocking all opportunities to enter or join.
(finance) To make trades offsetting an existing position, leaving the trader with a neutral position.
(aerospace) To seal off.

A few comments by way of closeout.
Orbiter aft closeout work begins today.
The company are best known for wholesale closeout deals.
A hail sale is a closeout at a car dealership after hail damage.
Most of the merchandise in the stores are closeouts and overstocks.
I've seen a lot of these for sale, and a lot of times, being sold at closeout.
A closeout or clearance is the final sale of an item or items to zero inventory.
The purpose of the closeout meeting is to ensure that GAO staff have been provided with a full understanding of the information they have gathered at a field location and its relevance to the engagement's objectives.