GARRARD COUNTY, Ky. (LEX NEWS) — The former Garrard County Distilling property was sold Friday at a master commissioner sale in Garrard County.
According to court proceedings held at the Garrard County Justice Center, Tom Collins Distilling LLC was the only bidder and purchased the property for $20 million.
The sale price falls well below the property's most recent appraisal value of more than $27.9 million. Court records show Tom Collins Distilling held a judgment against the distillery and was positioned as the primary creditor after acquiring the debt tied to the property.
The distillery, located on more than 200 acres in Lancaster, was once touted as one of Kentucky's largest new independent bourbon operations. However, the facility ceased production and entered receivership amid mounting financial troubles, including millions of dollars in liens, unpaid property taxes and loan obligations.
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Tom Collins Distilling is affiliated with spirits company Sazerac, the parent company of Buffalo Trace Distillery. Earlier this year, Sazerac acquired the debt originally held by Truist Bank, positioning Tom Collins Distilling to pursue foreclosure and eventual ownership of the property.
The auction marks the latest chapter in the collapse of Garrard County Distilling, which opened in 2024 but shut down little more than a year later, leaving workers and creditors in limbo.
