14 Ill. Adm. Code 475.380
Liquidation Sale
Section 475
Section 475.380 Liquidation
Sale
It is an unfair or deceptive act
to use any advertising terms such as "Liquidation Sale", "Public
Notice", "Closing Out Sale", "Lost Our Lease Sale",
"Forced to Vacate Sale" or similar terms used to connote or imply a
court-ordered or other forced liquidation of assets, or to induce a belief that
upon disposal of the stock of goods on hand, the business will cease and be
discontinued at the premises where the sale is conducted, unless such is the
case.