What are 'Net Tangible Assets' Net tangible assets are calculated as the total assets of a company, minus any intangible assets such as goodwill, patents and trademarks, less all liabilities and the par value of preferred stock. Also known as "net asset value" or "book value". http://www.investopedia.com/terms/n/nettangibleassets.asp I know not an authoritative source but it does mention "all liabilities", so presumably including "employee entitlements". Re "site closing cost", then some sites can be sold...etc