Bankrupt bar’s liquor license sells for $500,000
How much is a 20-year-old liquor license worth?
Precisely $500,000, which is what someone paid during an auction of the bankrupt Swanky Bubbles’ Cherry Hill liquor license.
The Courier-Post reports the bid came in in just one minute, and the partners will use the money to pay some of the bills for the former bar and restaurant in the Short Hills Shopping Center.
When purchased 20 years ago, the license cost $120,000.
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