A liquidator is a person or company responsible for selling off the assets of a business that is closing down or going bankrupt. Their main job is to convert the company's assets, like inventory and equipment, into cash. This cash is then used to pay off debts to creditors, ensuring that as much money as possible is recovered from the failing business. Liquidators often work closely with creditors and bankruptcy courts to follow legal procedures. They assess the value of the assets and determine the best way to sell them, whether through auctions or private sales. Their role is crucial in helping to settle the financial obligations of the business.