When a company liquidates, it means that it is selling off all of its assets in order to pay its debts. This can happen either voluntarily, at the request of the company’s shareholders, or involuntarily, if the company is forced to do so by a court.
Once a company has been liquidated, its existence comes to an end. Any assets that are left over after the debts have been paid off will be distributed among the shareholders. If there are no assets left over, then the shareholders will simply receive nothing.