The council is hereby authorized and empowered to provide by law for the licensing and conduct of any sale which is advertised to be a termination of business or a cessation of the operation of such business or a transfer to a new name or any other such sale in connection with which there is any representation by the individual, partnership, voluntary association or corporation conducting such sale, that the sale is being conducted or is required or compelled to be conducted, for reason of economic or business distress, or inability to continue business for any reason; or any other expression or characterization closely similar to any of the foregoing and calculated to convey to the public the information or belief that upon the disposal of the goods to be placed on sale, the business being conducted at any location will cease, or be discontinued, or otherwise be vacated or transferred, surrendered or handed over to a successor in business or conducted under a new name; or a sale in anticipation of, or in avoidance of termination, liquidation, revision, windup, discontinuation, conclusion, dissolution or abandonment. (1968 L.M.C., Ex. Sess., ch. 4, § 1; 1970 L.M.C., ch. 8, § 2.)
