The Salem News reports that Danvers Selectmen have revoked the liquor license of the former Tequilas Bar and Grill on Route 1, the first time in 2 1/2 years the board voted to strip a license from a holder whose establishment had closed.
Danversbank now has the Tequilas all-alcoholic-beverages license because it was pledged as collateral on a loan that its former holders failed to pay.
The bank has 14 days to appeal the revocation to the state Alcoholic Beverages Control Commission, Town Clerk Joseph Collins told the Salem News.
It may be Danversbank will let the license revert back to the town without a fight. No one from Danversbank appeared before selectmen at the public hearing.
The license may have sold for $80,000, but then the new owner would have had to pay just as much in outstanding liens against it. Town officials are trying to figure out if the license will revert back free and clear of any liens.