An invitation for bids is now open for the award of 30 expired restaurant licenses; this is the Pennsylvania Liquor Control Board’s fifth license auction since Act 39 became effective in August 2016.
The auction format will use the sealed bid process which the LCB has used in its other auctions. This auction includes one license in each of the following 30 counties:
Bids for the 30 licenses offered are due by noon Thursday, April 19, 2018. Bids will be opened Friday, April 27, 2018 and auction winners will be determined and announced soon thereafter.
The minimum bid amount accepted for each license is $25,000. To avoid frivolous and underfunded bids each bid must be accompanied by a bid surety of $5,000 or 5% of the total bid amount whichever is higher. Bidders at former auctions should note that this is a new requirement; prior auctions only required bidders to put up a $5,000 deposit.
The highest responsive bidder for each license will win the right to submit an application for the license to the PLCB within six months of auction award. If bid payment is not received within two weeks of auction award the highest bidder loses its bid, and the second-highest bidder will have the opportunity to apply for the license. Bids will be held in escrow by the PLCB, pending approval of the license application.
If you are interested, contact our office. We have successfully represented bidders in prior auctions.
— J. Ken Butera