Which one of the two sentences is grammatically correct and why?

Despite the recent reports of increases in profits at the Boston franchise, the corporation wanted it liquidated.

or

Despite the recent reports of increases in profits at the Boston franchise, the corporation wanted to liquidate it.

1) Despite the recent reports of increases in profits at the Boston franchise, the corporation wanted it to be liquidated.

What corporation and what is "it"

Guesswork:

Despite recent reports by the Boston franchise of increased profit, officials of the corporation want it liquidated in order to cope with threats of investigation by the federal agency