In simplistic terms, if a business goes into liquidation it means: The business stops trading with immediate effect. The employees are all made redundant. The assets of the business are sold to pay creditors.
What Is a Path? A file system stores and organizes files on some form of media, generally one or more hard drives, in such a way that they can be easily retrieved. Most file systems in use today store the files in a tree (or hierarchical) structure. At the top of the tree is one (or more) root nodes.
1 The PATH is the system variable that your operating system uses to locate needed executables from the command line or Terminal window.  The PATH system variable can be set using System Utility in control panel on Windows, or in your shell's startup file on Linux and Solaris.