Virginia law requires retail merchants conducting 'going out of business' sales to obtain permits from local authorities, adhere to inventory restrictions, and follow advertising rules. Permits are valid for up to 60 days, with possible extensions for liquidation. The law aims to ensure transparency and prevent deceptive practices during such sales.
The sale permit is valid for up to 60 days, with a possible one-time extension for liquidation purposes.
An inventory listing all goods to be sold, including their kind and quantity, must accompany the application.
No, only goods specified in the inventory can be advertised or sold; unlisted goods cannot be commingled or added later.
The advertisement must conspicuously display the permit number issued by the local authority and the sale dates.