Bank takes possession of historic Mississippi home and inn
NATCHEZ, Miss. (AP) — A southwest Mississippi historic home and inn now belongs to a local bank.
The Natchez Democrat reports no one on Friday met the $4.7 million minimum bid set by the bank to buy Dunleith Historic Inn and The Castle Restaurant.
Natchez-based United Mississippi Bank foreclosed after former owner Michael Worley defaulted on $7.3 million in debt. Worley has declared personal bankruptcy.
United Mississippi CEO Adrian Sandel says the bank intends to sell the house through other avenues.
Dunleith was built in 1856 and has been a bed and breakfast since 1976. It’s among the most recognized antebellum structures in Natchez.
Dunleith General Manager John Holyoak says the inn and restaurant remain open.
Another Worley business, Bowie’s Tavern, was sold at a Thursday foreclosure auction. Businessman Dan Bland paid $1.37 million.
Information from: The Natchez Democrat, http://www.natchezdemocrat.com/