Germany's oldest winery Kloster Pforta faces bankruptcy despite 887 years of operation

Germany's oldest winery Kloster Pforta (Saxony-Anhalt) has been operating continuously since 1137 but is now on the brink of bankruptcy. The state-owned estate has been unprofitable for several years and could go bankrupt by 2025 without strict restructuring. The situation worsened due to droughts, heavy rains, and frosts in 2024, as well as inefficient use of part of the vineyards and high personnel costs. The regional government (holding over 90% stake) will not sell the enterprise and has approved a rescue plan: reducing vineyard area from ~50 to 23.5 hectares. Two plots will be sold to the parent company for about 1 million euros and leased back. The restructuring is planned over four years.