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What’s the value of a liquor license in Lebanon County? About $120k, at least if you’re Giant Foods.
The Carlisle-based company successfully bid $121,000 for the expired license in the just-released August auction results. Compare that to the $351,000 it bid for a license in Bucks County. The average winning bid was about $97,000. The auction had been announced in July.
Explains the PLCB:
Top bidders have 14 days from the date of each Notice of Selection to remit full bid payment to the PLCB. If bid payment is not received within two weeks of auction award, the second-highest bidder will have the opportunity to remit its full bid payment. Each auction winner has six months from the issuance of the Notice of Selection to file a license application with the PLCB. Bids will be held in escrow by the PLCB, pending approval of the license application.
The last liquor license auctioned in Lebanon this past April was won by Redner’s with a bid of $151,000.
These auctions are regular under Act 39. See more information on the State’s restaurant license auction microsite.