An emergency clearance sale at greatly reduced prices. Originally, a sale of product that had been damaged by fire or that could no longer be stored because the storage facility had been destroyed by fire necessitating immediate sale or loss of value
If you describe a sale of goods or other assets as a fire sale, you mean that everything is being sold very cheaply. They're likely to hold big fire sales to liquidate their inventory. A sale of merchandise damaged by fire. a sale of goods at a lower price because they have been slightly damaged by a fire, or of goods that cannot be stored because of a fire