to end a company by selling its assets and paying its debts with any surplus being distributed to the shareholders ISMG was wound up by liquidators after it was unable to pay nearly £400,000 it owed to creditors.
to end something, especially a scheme or a project etc The scheme was wound up by the trustees whilst the company was still solvent.
- liquidate (to liquidate a company)
- The shareholders agreed that it was time to wind up the business.
- Let's wind up this deal so that we can free up resources for our next project.