"In Liq" is an abbreviation commonly used in business contexts to refer to a company in liquidation. However, several synonymous phrases can be used as alternatives to this term. One possible synonym is "under liquidation", which conveys the same meaning in a clearer manner. Another alternative is "being wound up", which signifies that the company is going through a process of dissolution and asset distribution. Additionally, "in receivership" can be used to indicate that a court-appointed receiver is managing the company's affairs. Lastly, the term "in administration" is also often used to imply that a licensed insolvency practitioner is handling the company's administration and recovery process.