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Company floated to avoid liquidation (5,3)

Ross

I believe the answer is:

noahs ark

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If this is the answer I cannot explain how the clue works.

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(Other definitions for noahs ark that I've seen before include "It landed on Ararat" , "Old Testament boat" , "Old ship" , "Has Koran got converted to biblical boat?" , "Transport ship" .)

I've seen this clue in The Globe and Mail.
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