Liquidation

Jacobsen Rugs in downtown Syracuse, N.Y., which has been selling oriental rugs since before the Depression, filed for bankruptcy and plans sell off the more than 2,000 rugs it has left before shutting down for good.

And this time, they mean it.

In 2011, the store got a wrist-slap from then-Attorney General Eric Schneiderman for holding a going-out-of-business sale that lasted too long.

The nation’s largest municipal-bankruptcy case is set for a showdown trial starting Tuesday, pitting the city’s emergency manager against holdout creditors seeking billions in payouts, The Wall Street Journal reports.