What does "close out" mean?

Also, close something out. Dispose of a stock of goods; end a business. For example, We are closing out all our china, or They've decided to close out their downtown branch. This expression is most often used in business and commerce but occasionally refers to other matters. [Late 1800s]

close someone out. Prevent someone's entry or inclusion, as in No one will tell us about the merger—we've been closed out. [Second half of 1900s]