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The Beer Blog

Granite City out of compliance with Nasdaq

By Rick Published: November 16, 2011

Granite City Food & Brewery, which has a restaurant in suburban Toledo, may lose its standing on the Nasdaq Stock Market. The company was notified this week that it is out of compliance to be listed. Granite City fell below the minimum stockholders' equity requirement of $2.5 million for continued listing. As of Sept. 27, the company reported stockholders' equity of about $2.2 million. Under Nasdaq listing rules, Granite City has 45 calendar days from Nov. 14 to submit a plan to regain compliance. The company is evaluating its options.