Napa family rebuilt winery after 2017 wildfire for $30M; nine years later, $37M debt puts estate at risk

The last winery foreclosure in California happened in 1992, but it may happen again soon. Ray Signorello's father founded their winery when he was just 14 years old. Next year, it is all set to celebrate its golden jubilee, but it might not be able to.On October 2nd, Napa's Signorello Estate is set to be unceremoniously auctioned off in a small, concrete courtyard next to the Napa County Courthouse. Ray Signorello suspects that the winning bidder might be the lender, whom he owes $37 million- American AgCredit, a borrower-owned cooperative that finances agriculture businesses.A series of bad fortunesIn the 2017 Atlas Fire, Signorello's winery, set on a hilltop off Napa's Silverado Trail was the first to have burned to the ground. The winery, hospitality space and Signorello's home were destroyed completely. But there were two silver linings: his 38-year-old Chardonnay vines, which he believes are the second-oldest in Napa Valley, and his 28-year-old Cabernet vines, had survived.Rebuilding it took seven years and a series of delays in permitting, the pandemic, tariffs and the wine crisis. The permitting process with Napa County “dragged on,” and he wasn’t allowed to start constructi...