David Weyrich – one of the most prominent businessmen in the county – is facing foreclosure of several gems of his enterprises, including the Paso Robles winery bearing his name and the luxury inn Villa Toscana.
If he cannot produce about $20 million by next week, his creditors will hold a public auction on the San Luis Obispo courthouse steps Nov. 20 of all entities under his Martin and Weyrich Winery LLC.
This includes Martin and Weyrich Winery and more than 250 acres of vineyards; Villa Toscana, the luxury bed-and-breakfast inn nestled in the Martin and Weyrich vineyards on Paso Robles’ eastside; two tasting rooms; the York Mountain Winery and vineyards in Templeton; and the Jack Ranch Vineyard in Edna Valley, according to notices of trustee’s sales filed with San Luis Obispo County.
Weyrich also owes another $6 million to creditors. A notice of default has been filed on his 7,700-square-foot home and 278 acres, including vineyards, in Paso Robles to recoup that debt as well, according to the filings. Weyrich currently has the property for sale for $9.5 million, according to a realty Web site listing.
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The $26 million makes for a total of more than $48 million worth of cash or collateral that Weyrich is being forced to pay his creditors within the year.
See Saturday’s Tribune and SanLuisObispo.com for additional details on this story.