One of the mysteries of the English language finally explained.
1A sale of goods remaining after the destruction of commercial premises by fire.
- ‘Today I attended an insurance ‘fire sale’ in Auckland and purchased some great bargains and quality goods, albeit a little smoke damaged.’
- ‘Thanks to a fire sale at his local public library in Weston, Massachusetts, he picked up several books by J. Edgar Hoover and Whittaker Chambers on the communist threat.’
- ‘Mr Cort said: ‘There's always a bargain to be had at a fire sale and this will be no different.’’
- ‘A fire sale of damaged stock is due to be held on the building's ground floor later this week.’
- ‘There are reports the damaged goods were originally intended for a local fire sale.’
- 1.1 A sale of goods or assets at a very low price, typically when the seller is facing bankruptcy.
- ‘He was quick to say that the company would not engage in a fire sale of the assets.’
- ‘Why was no effort made to seek community comment on Council's intention to flog off assets at fire sale prices?’
- ‘Any move to put the hotel group into administration would be drastic as it would mean a fire sale of prime assets at a time when they could not be guaranteed to reach high prices.’
- ‘When the money raised from the fire sale is gone, many of the remaining debts are canceled.’
- ‘In the weeks before the company went into liquidation, major general insurance firms profited from its demise by picking up pieces of its business at fire sale prices.’
- ‘We know that the company is not going out of business and that legitimate retailers do not have to sell its products at fire sale prices.’
- ‘How could a company go from the seventh largest in America to a loose confederation of parcels at the bankruptcy fire sale in a matter of months?’
- ‘The ship was only one of a number of assets that were sold off at fire sale prices to pay off his creditors.’
- ‘A fire sale of the assets would be less than the value of our market cap and debt, so there's no point.’
- ‘In all, the fire sale raised more than $300 million.’
- ‘You say they can benefit from a fire sale of international communications assets?’
- ‘Instead of bailing out the company, the investors wait for it to fail and then buy the assets at a fire sale.’
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