No Holiday Cheer for Charlottesville Winery
Foreclosed Winery Fails to Sell
It looks like “winery” wasn’t on anybody’s Christmas list this year.
Kluge Estate Winery and Vineyards is in the hands of its lender today after an unsuccessful auction for the winery in Charlottesville, Va.
The winery, owned by William Moses
and Patricia Kluge
, includes 907 acres, a farm shop and tasting room, six houses, office and production buildings, a barrel storage cave, and a 34,000-square-foot former carriage museum.
Kluge Estate owes the bank an estimated $34.8 million. The winery took out loans in order to expand the company from regional to national. Unfortunately, it missed sales targets that were required by its line of credit with the bank.
Copyright Associated Press / NBC4 Washington