Granite City Food & Brewery Files for Chapter 11 Bankruptcy
MINNEAPOLIS -- A bar and restaurant chain that started in St. Cloud is filing for Chapter 11 bankruptcy protection while it prepares to auction off its business and assets.
Granite City Food & Brewery's Board of Directors says they determined a restructuring was needed and could only be accomplished through filing for Chapter 11.
In a news release, Granite City says it has secured a loan to fund operations until an auction can be completed in February.
The management team expects to continue operations without interruption during the bankruptcy process.
Granite City Food & Brewery Ltd. opened its first restaurant in St. Cloud in 1999. It now has 25 restaurants in 13 states and operates four Cadillac Ranch restaurants in four states.