Boston-area club closed, placed on auction block

The Georgetown Club, a privately owned club located approximately 35 miles north of Boston, was abruptly closed on Sept. 21 and has been put up on the foreclosure auction block by lender Sovereign Bank.

The bank holds a $4.5 million note on the club, which the club’s owners have been unable to meet due to declining membership and revenues.

Dr. Peter Wojtkun, one of the club’s managing partners, had filed a petition for Chapter 11 reorganization on the club’s behalf, but the petition was dismissed in federal Bankruptcy Court. A plan to refinance with Sovereign Bank also fell through when the ownership group reportedly could not agree on the terms. At that point, the owners elected to shut down the club’s operations, including cancellation of a number of catering events, including weddings.

Initially opened in 1991 as a nine-hole club designed by Phil Wogan and later expanded to 18 holes, the club had lost over 100 members in recent months, according to Wojtkun. Members had been paying $5,000 per year.

According to the club’s bankruptcy petition, there is a total of $6.6 million owed for first and second mortgages. 

No date has been set for the foreclosure auction of the club and its property.

 

Comments

He's lost members NOT due to weather or the economy. He's lost members because he's harassed them, intimidated them, sued them, suspended them for NO reason, and bullied them. He's a hateful human being and he's got a litigation history that even includes his family. He's a snake. He's been held in contempt of court for destroying private property, court documents show that he's been accused of altering deed lines to his benefit and he's the courts have ordered him to pay back $365K he STOLE from an abutter.

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