The company's debt deepened, and Minnesota Brewing filed for bankruptcy in February 2002. On June 24, 2002 the brewery's doors were closed. The Grain Belt brand was bought in August 2002 by a longtime rival Minnesota brewer, the August Schell Brewing Company of New Ulm. Schell's brews and packages Grain Belt Premium, Grain Belt Premium Light, Grain Belt Nordeast, and Grain Belt Lock & Dam, primarily for the Minnesota market. Grain Belt Premium has since become Schell's most popular brand, and has earned an especially strong following in the younger demographic of the region. On February 16, 2018, Schell's announced that it would be adding to the Grain Belt family by canning its Grain Belt BLU variety (previously a Minnesota State Fair and limited release variety). Starting in 2015, Grain Belt released limited-edition 12 packs featuring football-themed labels and bottle cap games.