Granite City inks $15M debt-to-equity deal

MINNEAPOLIS Granite City Food & Brewery Ltd. said Monday it planned to convert about $15 million of debt owed to DHW Leasing LLC into 28 million shares of the restaurant company’s common stock.

The deal, set to close next month, will eliminate a majority of Granite City’s long-term debt related to the acquisition of furniture, fixtures, and equipment for the company’s 26 restaurants, and will save it about $19 million of principal and interest payments during the

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