(April 27, 2017) The county commissioners voted to approve two documents on Tuesday: an agreement of sale and an asset purchase agreement, which finalized the purchase of the Shore Spirits Liquor Mart in Pocomoke City by Kalpesh Patel for $1.174 million.
Patel bid $950,000 for the real estate, furniture, fixtures and improvements, and the existing inventory for a 15 percent markup from county cost for the store. The next highest bid was offered by Vinod Patel for $801,000 plus a 14 percent markup on the inventory.
The inventory cost was slightly adjusted from the last meeting when the bids were revealed. The first estimate of the inventory cost was $196,036, which was revised downward to $194,812, with no explanation offered for the change.
The county granted Patel permission to apply for a Class “A” beer/wine/liquor license and to be heard at the May 17 Board of License Commissioners meeting under the terms of the agreement.
Patel operated the Shop Kwik in Berlin from 1994 to 2011, and since then opened the Kwik Liquor in Millsboro, Delaware.
At the time the county’s exit strategy from the liquor wholesaling business was formally adopted in December 2015, then county attorney Sonny Bloxom estimated Worcester would end up losing between $1 million and $2 million. Former director of the department, Bobby Cowger, who resigned in protest for the way the exit strategy was handled, estimated the deficit would end up being closer to $4 million or $5 million.
The commissioners also voted to open bidding to sublease the Worcester County Shore Spirits store on Route 50, with a deadline for bids of May 1.
Final figures on any profit or loss realized by the county from exiting the liquor business won’t be available until the end of the year.
Patel bid $950,000 for the real estate, furniture, fixtures and improvements, and the existing inventory for a 15 percent markup from county cost for the store. The next highest bid was offered by Vinod Patel for $801,000 plus a 14 percent markup on the inventory.
The inventory cost was slightly adjusted from the last meeting when the bids were revealed. The first estimate of the inventory cost was $196,036, which was revised downward to $194,812, with no explanation offered for the change.
The county granted Patel permission to apply for a Class “A” beer/wine/liquor license and to be heard at the May 17 Board of License Commissioners meeting under the terms of the agreement.
Patel operated the Shop Kwik in Berlin from 1994 to 2011, and since then opened the Kwik Liquor in Millsboro, Delaware.
At the time the county’s exit strategy from the liquor wholesaling business was formally adopted in December 2015, then county attorney Sonny Bloxom estimated Worcester would end up losing between $1 million and $2 million. Former director of the department, Bobby Cowger, who resigned in protest for the way the exit strategy was handled, estimated the deficit would end up being closer to $4 million or $5 million.
The commissioners also voted to open bidding to sublease the Worcester County Shore Spirits store on Route 50, with a deadline for bids of May 1.
Final figures on any profit or loss realized by the county from exiting the liquor business won’t be available until the end of the year.