QVM's
decision to limit SL license renewals to one year raised problems for traders
wishing to sell their businesses but it would appear a solution is at hand.
QVM were looking to maintain flexibility within the trader
group as we head into renewal but a one year license was unlikely to attract
stall buyers if a trader wanted to sell in the meantime. CEO Jan Cochrane-Harry
had previously advised that every case would
be examined individually.
One PE Trader had a buyer for his stall but the one year
license was a stumbling block. He became a test case for examining how to make
it possible for normal business sales to continue during a renewal phase.
Retail Property Manager, Marina Levitsky, has written to us this week
confirming that QVM have
now received legal advice that will enable the offer of a 3 year license to the potential buyer. Each case will be considered
on its own merits.
This
could be good news for traders who are considering the sale of their businesses.