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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