Kluge Vineyards Hit With Foreclosure

by Deidre Woollard (RSS feed)
Oct 31st 2010 at 7:04PM

Patricia Kluge has thrown her heart, soul and no small amount of money into her Virginia wine business but that may not have been enough. C-Ville.com is reporting that Kluge Winery and Vineyard, the business that she and her husband Bill Moses opened in 1999, is in the hands of its lenders. Last month, Trevor Gibson, who had been the company's chief financial officer for five years, left Kluge Winery. Details of what happened aren't exactly clear but C-Ville.com has a statement from Bill Moses that says that the bankers have taken the first steps toward "dismantling the winery as an operating business as well as an auction of the property."

Kluge and Moses have Albemarle House, their 45-room English style manor, on the market for $48 million and earlier this year they sold off the contents at Sotheby's in a two-day buying bonanza that brought in $15.2 million. A sale of her jewelry brought in around $5 million.

TheHook.com says that a foreclosure notice list a total debt of $34,785,000. The assets of the Kluge Estate Winery and Vineyards include 907 acres in southern Albemarle County, 164 of which are vineyards. The sale would also include the Farm Shop and tasting room, as well as offices, production buildings, six employee houses, and a 34,000-square-foot former carriage museum. A sale scheduled for December 8 is set to take place at the vineyard office building on Grand Cru Drive in the southeastern part of the county while a second auction on December 11 in Madison would sell off 15,000 cases of Kluge Estate wine.

TheHook.com is also reporting that the lender Farm Credit filed a lawsuit against Kluge and Moses October 29 in Albemarle Circuit Court. According to that article, the couple also faced foreclosure on "Glen Love" a luxury spec house they developed at Vineyard Estates that was our estate of the day back in 2008 when it was listed at $6.8 million.

Kluge and Moses are still in negotiations with the lenders and may yet be able to save the winery before the auction.

Gallery: Kluge Estates Vineyard

Tags: albemarle house, AlbemarleVirginia, kluge vineyards, kluge winery, patricia kluge

Filed under: Wine, Wealth

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Reader Comments (Page 1 of 1)

Vito Can Spell Nov 1st 2010 1:32AM

That's what happens when you spend too much money trying to live large. 45 room English style manor? $5 million in jewelry? Yeah, okay. Whatever.

Adele Roberson Nov 1st 2010 1:21PM

You are correct.

It is amusing and strange to see everyone blaming the state of the economy on the government.

Listen, I have watched this scene for a long time now and the ones to blame for bankruptcies and losing their jobs and etc and etc, have only themselves to blame.

It is always the Americans system... BLAME EVERYONE BUT THEMSELVES.

American custom is to trade cars every year. LOOK AT ME.... HAVE BOUGHT A NEW,SEVENTY THOUSAND DOLLAR CAR. I AM SO
IMPORTANT!

Well, people in this counry have been living beyond their means for thirty years or so and now it has all come to haunt them.

Kids in private school. There was nothing wrong with the public schools until the citizens started taking their kids out to go to Catholic or other schools. Has anyone any idea how much these schools cost. I went to a public school... got good grades and w ent on to college and got good grades and came out to get a very good job.

You can get a very good education in public school, if you want to and your parents support the schools and the teachers.Of course, think how nice it is when you go to a party and can spend all your time bragging about your kid going to private school.

I picked up the morning paper back about six years ago and saw that the personal debt on credit cards that particular day was twenty-four BILLION DOLLARS. In a country that young, old, and children total about three hundred million.. that is a stretch, No?

Huge houses. They built them and now cannot pay the utility bills. It is really laughable. So now, blame the Democrats, burn the Constitution, elect a witch.. anything, but do not blame the idiots.

c. morris Nov 1st 2010 7:15AM

This is what happens when foolish people are tricked into voting for "hope and change" by the left wing media

snowmassey Nov 1st 2010 7:31AM

This is what happens when foolish people listen to lying scum like
Glenn Beck & Rush Limbaugh!

S Garey Nov 1st 2010 7:46AM

This is what happens when foolish people watch too much Fox News.

Jake Nov 1st 2010 12:15PM

This is what happens when people think like GW Bush! Spend, spend, spend, and someone else will pick up the bill! Way to go!

nastyboy Nov 1st 2010 7:59AM

I hate to hear off anyone losing there home or farm. No matter how wealthly they are I hope you can save it.

JD Nov 1st 2010 8:46AM

Nancy Pelosi and her husband own a 22M vinery, but I never got the name. And what do Rush and Glenn have to do with this article? It just goes to prove how f'd up the "left" is, it's not about money or a movement, it's about violent people doing whatever they want. Too bad it comes to an end tomorrow, November 2nd, 2010.

pd39 Nov 1st 2010 4:00PM

I'm not sure about the price of the pelosi property. They say it's worth $25 million when selling prices are discussed, but value it at $5 million on their tax returns.

I don't mind anybody trying to make a few bucks on a sale, but they are either robbing the tax payers blind by under valuing so much, or they are trying to loot, rape, and pillage any potential buyer with that sale price.

pete Nov 1st 2010 4:00PM

I'm not sure about the price of the pelosi property. They say it's
worth $25 million when selling prices are discussed, but value it at
$5 million on their tax returns.

I don't mind anybody trying to make a few bucks on a sale, but they
are either robbing the tax payers blind by under valuing so much, or
they are trying to loot, rape, and pillage any potential buyer with
that sale price.

Mike Ingenito Nov 1st 2010 9:31AM

Oh BOO HOO HOO

Bobby Nov 1st 2010 10:58AM

The picturesque setting of their vineyard is breathtaking. Yes, they lived "large" but it's safe to assume at one time the cash flow from their business supported that lifestyle. I've personally lost a third of my assets during this downturn that encompassed over 25 yrs. of hard labor to acquire & it's obvious this vineyard took tremendous labor & dedication to maintain. These are tragic times we're living through & I find no solace in viewing other's misery. This accomplishment will fall into disrepair in the wrong hands..

Bobby Nov 1st 2010 11:13AM

One more sidenote. These are the types of business the gov't should be trying to save. Maybe the previous owners did live a little too high on the hog but their achievement shouldn't go to ruin. Perhaps a more frugal owner with bottom line experience could turn this into a winner again. These are the businesses America needs to keep that employ real people & deal with real products..

Garry Boie Nov 1st 2010 12:36PM

This is not something that is important to save...in fact too many people drink alcohol.....and it is nothing but going downward....We need to increase things that are worthwhile and more positive and a vineyard...lets face it...I suppose they would not make enough money just making grape juice. Oh well...

Sun Nov 1st 2010 11:30AM

Should saved those money toward mortages and household. Now it's gone forever. Hope that you learned the hard lesson in hard way. Spending millions on jewerly? Stupid and don't last forever anyway.

Leone Nov 1st 2010 11:59AM

Lay not up for yourselves treasures upon earth, where moth and rust doth corrupt, and where thieves break through and steal: 20But lay up for yourselves treasures in heaven, where neither moth nor rust doth corrupt, and where thieves do not break through nor steal: 21For where your treasure is, there will your heart be also. Mathhew 6: 19-20

For what is a man profited, if he shall gain the whole world, and lose his own soul? or what shall a man give in exchange for his soul?
Matthew 16: 26

Julie Nov 1st 2010 12:02PM

The article is about a vineyard being foreclosed on, not about politics. Can't you hyenas keep political B.S. out of ONE, just ONE, message board? Both parties, the dems and the repubs, are acting like little children. Knock it off.