Granite City Food & Brewery has acquired the assets of three Cadillac Ranch All American Bar & Grill restaurants for $3.3 million. Fifth Third Bank provided a $5 million delayed draw term loan, which Granite City drew in full to fund the acquisitions.
Corporate restructuring specialists say technology and energy industries will improve in 2012, but a worsening European sovereign debt crisis could be the wrench that squeezes them all, according to the annual TMA Trend Watch survey.
A federal jury returned guilty verdicts against Courtney Dupree, the former CEO of GDC Acquisitions. Dupree was found guilty of bank fraud against Amalgamated Bank, GDC’s asset-based lender, of $21 million in fraudulent loans.
The Baltimore Sun reported that Maryland Governor Martin O’Malley has asked GE chairman and CEO Jeffrey Immelt to reconsider GE Capital’s decision to freeze some of R.G. Steel’s funds, saying the move has contributed to the firm’s decision to lay off workers.