In my book Success in Store both I and my co-author separately berated anyone who'd even consider a sign stating Under New Management.
If the business was good then you do not want to make a point of saying that the old owner has gone; customers, even those who are not actually dissatisfied, may take it as an opportunity to just drop off, to try that other shop they've been thinking of going to.If the business was bad, then if a sign with those words is all you can do to make it appear that things have changed, then you may appear to be doing the same old things in the same old way.
But this sign is a play on the theme. It's big, on a busy road where it stood out even to people like me who had not noticed the business as it was. But it makes a strong point and it is in a field where many such businesses in Australia were taken over by huge groups who seemed to have money to burn but then burned out. It can therefore be a good idea to promote the benefit that the "new" owners are in fact the old owners who knew what they were doing.
We hope it helps.
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