What are these yellow posts that indicate that a store is now "possessed" by the landlord?

Question

I noticed that when a restaurant closes, sometimes there is a yellow paper posted in the storefront indicating that the premises are not controlled by the landlord, or something like that. What is the purpose of these posts?

Answer 1

Change of ownership of a business must be posted in public, should someone wish to file a complaint or have something to say about such a change. It's MOSTLY a formality, but if the place is, say a liquor store, and it's frequently visited by bums and such who hang around, drink on the premise, and messing up the neighborhood, then perhaps the locals will have something to say about it, and the local authorities can deny the sale, forcing the closure.