A west-central Minnesota brewer has reportedly submitted a bid to buy the bankrupt Minnesota Brewing Co. of St. Paul, maker of Grain Belt, Grain Belt Premium and Pig's Eye beers.

Minnesota Brewing announced in late June that it was closing its doors for good after 150 years of business, the second St. Paul brewery to go under in less than five years.

The company had sought a guarantee of $12 million from St. Paul to stay afloat and paying 180 employees, but couldn't secure the financing in February when it declared bankruptcy and said it was preparing a reorganization plan.

The company reported $32 million in debt and $14 million in assets when it closed.

But the plan didn't materialize and about three weeks after the brewery pushed out its last beer, the August Schell Brewing company based in New Ulm in west-central Minnesota said it has submitted a bid to buy the Premium label and assets for Minnesota Brewing.

Schell indicated it would use the recipe and brew the beer in New Ulm, where it produces 14 different brands of beer under its own label, as well as brewing for contract with other companies.

Minnesota Brewing turned out its first beer on the site of its current St. Paul brewery in 1855 by a group of German settlers.

The brewery also houses Gopher State Ethanol, which creates the corn-fuel on-site for use in gasoline among other products.