French Wine Estate Vignelaure, Once Owned by Lauritz.com Couple, Sold to British Buyer

The French wine estate Vignelaure, once owned by the couple behind the now-bankrupt auction house Lauritz.com, has been sold after being on the market for several years. The sale was reported by industry publication Thedrinksbusiness.com and confirmed by Finans, citing additional sources.

Neil Utley, a British insurance magnate, has acquired the estate. According to Thedrinksbusiness.com, Utley intends to invest in the property, including replanting the vineyards and modernizing the wine cellars. The exact purchase price was not disclosed in the report.

Finans noted that Bengt Sundstrøm, one of the former owners, had previously valued the estate at over 260 million Danish kroner in the accounts of his privately held companies. However, in February, the estate was listed for sale at 28 million euros, equivalent to approximately 209 million Danish kroner.

Lauritz.com, the auction house led by Bengt and Mette Sundstrøm, filed for bankruptcy in 2023 following media reports that it failed to pay customers for sold items within the stipulated deadlines. The company had been facing financial difficulties for an extended period prior to its collapse.