Eddie Montgomery’s Harrodsburg, Ky. steakhouse closed in May, and will be sold in January. The building and surrounding lots will be up for auction on January 10 with the money going to pay defaulted loans.

According to the Lexington Herald-Leader, $12.7 million is owed to the Central Bank & Trust of Lexington. The bank sued Montgomery and his ex-wife Tracy Nunan earlier this year for the money. Eddie Montgomery’s Steakhouse opened in 2009 and abruptly closed in May, giving no notice to employees.

“It was a dream of mine to bring something back to our hometown that we could all be proud of,” the singer and one-half of Montgomery Gentry tweeted at the time.

The high bidder will be required to pay in cash or make a 10 percent deposit and pay the rest in 60 days. The bank was also awarded possesion of his personal property in Boyle County. Nunan and Montgomery divorced in 2010.