We have purchased an already running business. Should we use existing GBP or make new one?

So here is the situation: a client purchased a local business that has an active GBP. We have been given ownership of the profile. We are changing the business name slightly but the address and phone number will remain the same. Normally, I would suggest simply updating the business name but in this case the reviews are not great. They are at a 3.6, so a few months of generating good reviews could bring it to 4+.

Would you start fresh or simply edit the current listing?

The question I have is if I mark the current listing as "Permanently Closed" then create a brand new listing with a new business name, how long are people going to see the "Permanently Closed" profile rather than my new one? I'd for searches to think this business is closed rather then just under new ownership.

This is a fairly established brand in the area so people will continue to search it by name for some time.