The purchase and sale of a business is already complicated enough without the need to transfer a liquor license. When the sale involves a restauant or some type of nightclub, the broker and the escrow company need to make sure their procedure is airtight, and that they strictly follow this procedure.
In California, this includes the publication of a bulk sale notice and the requirements to have the transfer approved by the Department of Alcoholic Beverage Control, or A.B.C. The delay in getting A.B.C. approval can occur if there is some concern with the buyer's character, or if the seller has taxes that are not paid, or if the local agency has an issue with the transfer. I've seen many sellers and buyers try to circumvent the A.B.C. process so that they can get the escrow done. This is the last thing that should occur, even for a day. Brokers, escrow agents, stick to your timelines!
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