Definition of closeout in English:

closeout

Line breaks: close|out
Pronunciation: /ˈkləʊzaʊt
 
/

noun

[usually as modifier] US
  • A sale of goods at reduced prices to get rid of superfluous stock: a closeout sale closeout prices
    More example sentences
    • Many of these close-out sales will offer great laptops at reduced prices.
    • Anyway, I bought the E. T. cartridge shortly after the crash in 1984 at a Sears closeout store for only $2.
    • We'll see how good the closeout sales are.

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noun
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