Granite City Food and Brewery, Ltd. (GCFB)

[MikeyInTheD]

The company is going to creditor-controlled sometime in 2020 and the share price is reflecting that reality. The balance sheet can no longer be supported. Management has cut every expense possible and it still isn’t enough. Cash burn has driven the company to the edge of the cliff and it’s going over soon.

I owned this company back when it was around $1.00 and sold for a decent return at the time. Held onto a small position because I thought it would be a takeover target. The day they announced they would no longer be a fully reporting company I sold the remaining shares I owned. The company signaled they didn’t have a plan to provide shareholders with any return on equity.