The announcement that four restaurant liquor licenses are up for bid in the local area means opportunities for new business ventures for residents.
The Pennsylvania Liquor Control Board announced Monday that one license each is available in Cameron, Elk, McKean and Potter counties. A total of 25 expired restaurant licenses are available across the state.
Bids area due by noon on Aug. 2, according to the liquor control board. Participants must bid at least $25,000 plus a bid surety of either $5,000 or a 5 percent of the bid amount, whichever is greater. High bidders will earn the ability to submit an application for the license within six months of an auction award.
Restaurant liquor licenses are up for bid in the following municipalities: Portage Township, Cameron County; St. Marys, Elk County; Eldred Township, McKean County; and Coudersport, Potter County.
Since the Act 39 of 2016 became law in Pennsylvania, the liquor control board has been allowed to auction restaurant liquor licenses that have expired since 2000. This is the sixth such auction.
In April, the board opened bids in the fifth auction. The high bids included a $76,100 bid by Sheetz Inc. for a Keating Township, McKean County, license. In that auction, there were no qualifying bidders for a Shippen Township, Cameron County license.
Sheetz indicated it planned to use the McKean County license in a new store that is under construction in Lantz Corners.
More information can be found at https://www.lcb.pa.gov/Licensing/ResourcesForLicensees/Pages/Restaurant-License-Auction.aspx
