Getting What You Pay For When Buying a Restaurant-Part One
Posted by Laura Kinnard
Many times we have clients who come in for assistance in purchasing an existing restaurant. Typically the scenario is that Bill Buyer (B) is planning to buy a restaurant from Owen Owner (O). B wonders if he can buy any of the liquor or food inventory that O has in stock. He also wonders if any of the licenses from the health inspectors or alcoholic beverages division can be transferred from O to B.
What restrictions are placed on the sale of liquor or food inventory during the sale of a restaurant?
SALE OF LIQUOR OR WINE INVENTORY: In order to legally sell wine, beer, and/or liquor the business owner must have a license. These are normally issued by the City in which the restaurant/bar is located. The seller of the restaurant/bar (the “licensee”) may sell their stock of alcoholic liquor and wine to the new owner, as long as…
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