Answered By: Bobray Bordelon
Last Updated: Jul 03, 2023     Views: 36

Liquidation occurs when a company cannot pay its bills and sells assets to attempt to pay back creditors. 


  • Compustat, which is available through WRDS, lists S&P Quality Ranking (Mnemonic - SPCSRM) as 99 for liquidations.
  • CRSP, which is available through WRDS a delisting code as 400-499 for liquidations.
    • Note: the company would have to be delisted to be included.
  • SDC's Mergers and Acquisitions Database which is available in Firestone (A Floor) has a liquidation flag.
    • To be included the liquidated company has to be acquired. 
  • Refinitiv Workspace
    • Click on deals.
    • Click on Advanced Search.
    • Click on All Mergers and Acquisitions.
    • Click on Continue.
    • Click on Find Search item.
    • Under search criteria, type in Liquidation.
    • Click on Liquidation Flag.
    • Click on Select Search Item.
    • Click on Select All Liquidations.
    • Apply to search.
    • Click on Execute Search.

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