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Derelict VFW Parkway liquor store set to stay that way
By adamg on Sat, 03/28/2009 - 1:05pm
The 5C's on VFW Parkway in West Roxbury (next to the equally derelict Spring Blossom Chinese restaurant) remains shut despite a new owner because liquor distributors won't send their trucks there due to the $100,000+ in bills the previous owner ran up, the West Roxbury Bulletin explains.
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Comments
what am I missing?
Presuming this is an arms-length transaction between the former and present owners of the real estate, (they are truly unrelated, in other words),how do the debts of a previous owner have anything to do with the new owner? So a business fails and the booze distributors get to ignore the bankruptcy laws? WTF?
The debts of the prior owner were secured by the license
He accepted a license that was burdened by the debts -- apparently swapping it for one that wasn't. He seems to have made an extremely unwise deal.
sounds like such a stupid system....
nt
Its the same thing that
Its the same thing that happens with a house with leans on it, if you borrow against something that item is associated with the debt. You cant just get rid of the item and expect the debt to vanish. I am sure it is nothing personal against this guy, its for future borrowers. If you can just run up a debt then transer the license to someone else in your family and have the debt vanish you could do that several times. You have to remember there is someone who has a business that depends on the store owner to pay his 100,000 bill.
Its not exactly the same....
if the new owner has nothing to do with the previous owner in terms of the license, I don't think the debt should be the same.
The people in that business shouldn't have let the debt run up that high if they were that worried about it. Thats the way business run in my opinion and should in this case.
Property, taxes and leins are a different situation I would say.
Exactly the same....
...as a mortgage "complicating" title to ownership of a house -- or taking out a loan and using your vehicle registration as security. If the vendors filed the proper paperwork showing they had a security interest in the license, then the buyer took that license subject to the debts the license secured. If the vendors didn't file the right paperwork, then their interest might be defeatable. If they did, and the buyer failed to double check before completing his deal, he's screwed. Just the same way a buyer would be if he directly paid the seller of a house when some bank (holding a mortgage) actually was entitled to all (or almost all) of the money.
Exactly its a commodity and
Exactly its a commodity and people sell their rights to them just like they would sell property. In some areas the liquor license is worth more then the business, and possibly even the property. I would consider a liquor license to actually be even better collateral then physical property due to its mobility. Its easy enough to let a piece of property fall into disrepair and walk away from it and not have someone pick it up and fix it and turn it back into a bar. Its another thing to have a liquor license just sitting out there. Show me one town/city near Boston where liquore licenses are not in demand.
yes but
this would be different if it were a store that sold candy, picture frames, or books.
The owner of that shop could simply buy candy, picture frames or books from another place, while alcohol distributers have a monopoly on specific areas in MA. So the store in West Roxbury can only buy Budweiser products from one distributer, where the candy owner can buy the candy from whom ever he wanted to, regardless of the debt.
Now I understand that alcohol is regulated differently and why it is, and I understand that the new owner bought the licence knowing that he would have to buy himself out of the problem, but my point was that the whole licensing issue is nonsense, and its still different than a mortgage or tax issue.
This to me would be like buying a house with a broken roof, but not being able to get a roofer to put a new one on because the old owner owed money to the state roofers association.
West Roxbury question
OT: if somebody told you to meet them at a restaurant pronounced "Doro's" in the W Roxbury area, but perhaps spelled another way, where would you go?
Pomodoro's?
The only one I can think of that's close is Pomodoro's (on Grove St.) A bit of a stretch is Deno's.
Turned out to be Doyle's
Pomodoro's sounded too upper crust for this crowd.
You haven't seen Pomodoro's then
They have good food, but I don't think anybody would ever confuse them with the Upper Crust (or upper crust, for that matter). :-).
Is there a second Doyle's in West Roxbury?
I only know about the one on Washington Street in JP.
No Doyle's in West Roxbury
Closest you'll get is the Corrib.