As used in this chapter:
(a) "Going out of business sale" means any sale to the public or offer to sell to the public goods, wares or merchandise upon the implied or direct holding out or representation that such sale is in anticipation of the ceasing, discontinuing or terminating a business at its present location.
(b) "Distressed merchandise sale" means any sale to the public or offer to sell to the public goods, wares or merchandise upon the implied or direct holding out or representation that such sale is being conducted under any one or combination of the following circumstances, whether or not such sale is in anticipation of the cessation of business:
(1) Such goods, wares or merchandise were acquired from a person who has terminated business or is in the process of terminating business;
(2) Such goods, wares or merchandise were acquired from another store of the person conducting the sale at which he has terminated business or is in the process of terminating business; or
(3) Such goods, wares or merchandise were acquired for resale at reduced prices, which reduced prices result from such goods, wares or merchandise having been involved, directly or indirectly, in fires, repossessions, receiverships, bankruptcies, wrecks or lease losses.
(Ord. 62- 66. Passed 8-8- 66.)