Eddie Montgomery's restaurant in central Kentucky is set to be put up for auction in January to help settle nearly $12.7 million in defaulted loans.

Eddie Montgomery's Steakhouse, located in Harrodsburg, Ky., lost a judgment brought by Central Bank & Trust. The restaurant auction is set for Jan. 10 in Harrodsburg. According to the Lexington Herald-Leader, the bank sued Montgomery and his ex-wife, Tracy Nunan, earlier this year for money the couple owed on business-related loans.

The Montgomery Gentry singer opened the steakhouse in 2009. It closed abruptly in May of this year. Montgomery tweeted about the closure at the time:

The restaurant was built as part of a development called Skylar's Landing, and will be auctioned off as a whole with surrounding lots.

Central Bank also took possession of Eddie Montgomery's personal property near Perryville in Boyle County.