On the heels of closing its restaurant in Circle Centre, Minnesota-based Granite City Food & Brewery has closed its last remaining Indianapolis-area location, at 150 W. 96th St. in Carmel.
A call to the establishment went unanswered Thursday morning, and the location was no longer listed on Granite City’s website. Several online services for restaurant listings and reservations listed it as permanently closed, and an employee at the chain’s Fort Wayne restaurant said Fort Wayne is Granite City’s only remaining Indiana site.
An employee at Granite City’s corporate support center said the company could not comment and would not confirm when the 96th Street location closed.
But the company has struggled with financial problems in recent years, and has shuttered numerous locations in recent months.
Granite City closed its downtown Indianapolis restaurant in August when it vacated its Circle Centre restaurant on the mall’s ground floor.
A few weeks later the mall’s owner, Circle Centre Mall LLC, filed a lawsuit alleging that Granite City defaulted on its lease for the 9,603-square-foot space and owes it more than $1.2 million.
As of June 25, the company had 32 Granite City locations in 13 states, including the Indianapolis and Carmel locations and one each in Mishawaka and Fort Wayne. It also operated four Cadillac Ranch locations and a centralized beer production facility in Ellsworth, Iowa.
On Thursday, the company’s website listed 25 Granite City locations and four Cadillac Ranch locations. News reports indicated that the Mishawaka location closed this week.
In its second-quarter financial report, Granite City said it is in default to creditor Citizens Bank and has failed to make all principal payments and most interest payments on its debt with the bank since March 31, 2018.
Granite City also said that its board is “actively exploring strategic options” to improve its financial liquidity, including a possible sale or restructuring, and has hired an investment banking firm to help it explore its strategic and financial alternatives.
For the 26-week period ending June 25, the company posted a loss of $4.3 million on revenue of $65.4 million. During the same period a year earlier, the company posted a $1.8 million loss on revenue of $68.8 million.