Granite City Food & Brewery Ltd. has hired an investment bank to explore a possible sale, the company said this week.
The Minneapolis-based casual-dining operator has hired Houlihan Lokey Capital Inc. to market the company and gauge interest in a sale or merger. Granite City has 31 restaurants, in addition to five Cadillac Ranch units.
Granite City’s revenue has grown over the past five years, but a heavy debt burden has kept it from making a profit. In 2013, the c