Closing Out Sale

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North Carolina General Statute 66-77 requires that all businesses having "closing out" or going out of business" sales must file an application with the City.  The application must be filed with the City Clerk at least seven days before the first day of advertising the sale.  The merchant must pay a $50 license fee and post a $500 bond (unless it has been in business at the same location for at least one year).  A copy of the inventory is to be provided at the time the application is filed.  Nothing can be added to the inventory; however, if there are some outstanding orders which will arrive during the sale, these can be included in the sale but a copy of the invoice and/or purchase order must be filed with the City.  A license for the sale is good for 30 days and may be renewed for three 30-day periods, not to exceed 120 days total.  At the end of the 120 days, the business must close its doors and cannot reopen in the City for at least one year.  The application and guidelines are attached below.   

Click here for the General Statutes regarding a "Closing Out Sale."   Click here for the "Application for Closing Out Sale."  Please contact the City Clerk at (252) 329-4422 if additional information is needed.