<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0603</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001048620</cik>
        <entityName>GRANITE CITY FOOD &amp; BREWERY LTD</entityName>
        <issuerAddress>
            <street1>5402 PARKDALE</street1>
            <street2>SUITE 101</street2>
            <city>MINNEAPOLIS</city>
            <stateOrCountry>MN</stateOrCountry>
            <zipCode>55416</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>952-215-0660</issuerPhoneNumber>
        <jurisdictionOfInc>MINNESOTA</jurisdictionOfInc>
        <issuerPreviousNameList>
            <previousName>Founders Food &amp; Firkins Ltd.</previousName>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Corporation</entityType>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Steven</firstName>
                <middleName>J.</middleName>
                <lastName>Wagenheim</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>5402 Parkdale Drive</street1>
                <street2>Suite 101</street2>
                <city>Minneapolis</city>
                <stateOrCountry>MN</stateOrCountry>
                <zipCode>55416</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>James</firstName>
                <middleName>G.</middleName>
                <lastName>Gilbertson</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>5402 Parkdale Drive</street1>
                <street2>Suite 101</street2>
                <city>Minneapolis</city>
                <stateOrCountry>MN</stateOrCountry>
                <zipCode>55416</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Mr. Gilberton has agreed to resign as a director upon closing of the Transaction.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Eugene</firstName>
                <middleName>E.</middleName>
                <lastName>McGowan</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>5402 Parkdale Drive</street1>
                <street2>Suite 101</street2>
                <city>Minneapolis</city>
                <stateOrCountry>MN</stateOrCountry>
                <zipCode>55416</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Arthur</firstName>
                <middleName>E.</middleName>
                <lastName>Pew III</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>5402 Parkdale Drive</street1>
                <street2>Suite 101</street2>
                <city>Minneapolis</city>
                <stateOrCountry>MN</stateOrCountry>
                <zipCode>55416</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Mr. Pew has agreed to resign as a director upon closing of the Transaction.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Bruce</firstName>
                <middleName>H.</middleName>
                <lastName>Senske</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>5402 Parkdale Drive</street1>
                <street2>Suite 101</street2>
                <city>Minneapolis</city>
                <stateOrCountry>MN</stateOrCountry>
                <zipCode>55416</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Joel</firstName>
                <middleName>C.</middleName>
                <lastName>Longtin</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>5402 Parkdale Drive</street1>
                <street2>Suite 101</street2>
                <city>Minneapolis</city>
                <stateOrCountry>MN</stateOrCountry>
                <zipCode>55416</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Mr. Longtin will become a director upon the closing of the Transaction.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Donald</firstName>
                <middleName>A.</middleName>
                <lastName>Dunham, Jr.</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>5402 Parkdale Drive</street1>
                <street2>Suite 101</street2>
                <city>Minneapolis</city>
                <stateOrCountry>MN</stateOrCountry>
                <zipCode>55416</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Mr. Dunham will become a director upon the closing of the Transaction.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Todd</firstName>
                <middleName>W.</middleName>
                <lastName>Hanson</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>5402 Parkdale Drive</street1>
                <street2>Suite 101</street2>
                <city>Minneapolis</city>
                <stateOrCountry>MN</stateOrCountry>
                <zipCode>55416</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Mr. Hanson will become a director upon the closing of the Transaction.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>John</firstName>
                <middleName>A.</middleName>
                <lastName>Pesicka</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>5402 Parkdale Drive</street1>
                <street2>Suite 101</street2>
                <city>Minneapolis</city>
                <stateOrCountry>MN</stateOrCountry>
                <zipCode>55416</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Mr. Pesicka will become a director upon the closing of the Transaction.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Darius</firstName>
                <middleName>H.</middleName>
                <lastName>Gilanfar</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>5402 Parkdale Drive</street1>
                <street2>Suite 101</street2>
                <city>Minneapolis</city>
                <stateOrCountry>MN</stateOrCountry>
                <zipCode>55416</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Monica</firstName>
                <middleName>A.</middleName>
                <lastName>Underwood</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>5402 Parkdale Drive</street1>
                <street2>Suite 101</street2>
                <city>Minneapolis</city>
                <stateOrCountry>MN</stateOrCountry>
                <zipCode>55416</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Restaurants</industryGroupType>
        </industryGroup>
        <issuerSize>
            <revenueRange>$25,000,001 - $100,000,000</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2009-09-21</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>false</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>0</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>15050000</totalOfferingAmount>
            <totalAmountSold>0</totalAmountSold>
            <totalRemaining>15050000</totalRemaining>
            <clarificationOfResponse>Pursuant to a debt conversion agreement, $15.05 million of the Issuer's indebtedness to DHW Leasing, LLC will be converted into 28,000,000 shares of the Issuer's common stock (the &quot;Transaction&quot;).</clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>1</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>GRANITE CITY FOOD &amp; BREWERY LTD</issuerName>
                <signatureName>James G. Gilbertson</signatureName>
                <nameOfSigner>James G. Gilbertson</nameOfSigner>
                <signatureTitle>Chief Financial Officer</signatureTitle>
                <signatureDate>2009-09-30</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
