Currently, once a shop lapses, all of the items in the shop are up for grabs for free. Some players make a career of doing rounds, finding lapsed shops, and scavenging free stuff. This seems like somewhat lame behavior. It also makes it rather easy to acquire potentially powerful items.
My suggestion is that during the period where no one owns the shop, any items remaining in the shop still cost gold. If you want an item in a lapsed shop, you either have to pay for it, or bid on the shop like everyone else. Career scavengers will need to find an alternative line of work.