An interesting public notice was published in the Atlantic City press this past week. According to the notice, there seems to be a person-to-person transfer of a Plenary Retail Consumption License taking place at 3401 Pacific Avenue in Wildwood.
The application goes on to say;
This “application has been made to the Alcoholic Beverage Issuing Authority of the City of Wildwood, Cape May County, New Jersey, for the Person-to-Person transfer of the Plenary Retail Consumption License heretofore issued to OAK AVENUE, LLC under License No. 0514-33-027-011 for premises located at 3401 Pacific Avenue, Wildwood, New Jersey, to Cove, Craft, Cocktails & Cuisine LLC”
A quick Google search shows that this is the address for The Deck at Holly Beach, across from Byrne Plaza.
Seeing a “Plenary Retail Consumption License,” normally means that a business is selling. In order to operate a bar a location must have this license. Without it said the building would not be allowed to sell liquor. This is why you see many restaurants become a BYOB, (bring your own bottle).
Just like physical property, a Plenary Retail Consumption License holds a ton of value. If someone were to sell a bar most likely it is selling it with this license. The only time this doesn’t happen is if the location were to be demolished or if a license is getting passed to someone else in the organization. If the building would to be demolished, which is not likely, this would make the Plenary Retail Consumption License a Pocket License.
A Pocket License is a license that doesn’t have a home yet and is sitting (say in your pocket).
At this time there is no confirmation on if it’s just a rebrand, a sale to a partner, or a sale of the property. We reached out to The Deck for comment but according to their Facebook page, they are off for the New Year.
Tune back later for more updates.
Check out these other Wildwood videos and articles.
