Granite City Food and Brewery, Ltd. (GCFB)

[RandyKCMO]

Have followed this for a while. The new CEO... Lynch and company seen to be turning the corner. He turned around the Popeye's Chicken franchise and hopefully will do the same here.

The big overhang is the debt ($40million plus). They are actually in default of they're debt covenants.

And technically, they've not been opening new stores lately... They've actually closed a few of the less profitable ones.

Lastest financial report looked better, but not great. The reports are a little hard to find in the website but posted here:

www.gcfb.com/investors

On the plus side... low outstanding shares and pretty small flower. The company is pretty well opened by those who holds the debt so they have good incentive to turn it around.