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Sixth Avenue sold items for as much as 70 percent off in unofficial clearance sales during the middle of 2011. Following the company's collapse, one of its creditors, Toshiba , won a default judgment for $1.2 million after the Temiz brothers failed to respond to a lawsuit, and banks foreclosed against store properties owned by the brothers.
A closeout or clearance sale (closing down sale in the United Kingdom) is a discount sale of inventory either by retail or wholesale. It may be that a product is not selling well, or that the retailer is closing because of relocation, a fire (a fire sale), over-ordering, or especially because of bankruptcy.
Annual consumer electronics sales are expected to reach $2.9 trillion by 2020. It is part of the wider electronics industry . In turn, the driving force behind the electronics industry is the semiconductor industry .
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