Definitions from Wiktionary (closeout)

▸ noun:  (surfing) A wave which breaks all at once, as opposed to breaking progressively along its length.
▸ noun:  (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.
▸ Also see closeout

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