Bank buys Renault Winery out of bankruptcy
OceanFirst Bank, of Toms River, N.J., bought Renault Winery Inc. Golf out of bankruptcy last week and will operate the Atlantic County facility under the new name, Tuscany Resort, while trying to sell it, the bank said.
OceanFirst Bank, of Toms River, N.J., bought Renault Winery Inc. Golf out of bankruptcy last week and will operate the Atlantic County facility under the new name, Tuscany Resort, while trying to sell it, the bank said.
Renault filed for bankruptcy protection last November as OceanFirst, which held a $7.9 million mortgage on the property, was planning to have it sold in a sheriff's sale. Renault's total liabilities were $8.6 million.
New Vistas Corp., of Northfield, will manage the property, which straddles Galloway Township and Egg Harbor City. The resort employs 80 to 150 people, depending on the season, OceanFirst said. hbrubaker@phillynews.com
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