Napa Valley's Signorello Estate, the Silverado Trail winery that rebuilt after the 2017 Atlas Fire, has lost its property to foreclosure. Its main lender, American AgCredit, bought it for about $22.3 million at an auction on Friday, Nov. 6.
The sale came after repeated delays and a brief bankruptcy case, the Napa Valley Register reported. The roughly $37 million figure reported earlier was the estimated debt and costs, not the sale price. A second foreclosure sale tied to about $6.08 million in debt on the same property was listed as canceled.
How it got here
American AgCredit recorded default notices in April. Signorello Estate LP and seven related companies filed for Chapter 11 on Aug. 27, one day before an earlier auction date, which temporarily halted the sale.
The loans were taken out during the seven-year rebuild of the winery at 4500 Silverado Trail, north of Napa, the North Bay Business Journal reported in August. The original winery was destroyed in the October 2017 Atlas Fire, and the new one, built largely inside a cave to guard against future fires, opened in June 2024.
Why it matters
Foreclosures are rare in the wine business, but lenders and analysts quoted in August said more closures were likely as the multi-year slump in wine sales continues. Ray Signorello Sr. and his son, Ray Signorello Jr., founded the estate in 1977.