A federal bankruptcy court has approved the sale of 24 Kona Grill polished-casual restaurants for $20.3 million to Williston Holding, the company headed by former Kona CEO and co-founder Marcus Jundt. The sale would pare the holdings of Kona Grill’s bankrupt parent to three restaurants, according to bankruptcy court documents. But local news reports indicate that at least one of those three, a store in Columbus, Ohio, has been closed. Kona filed for Chapter 11 bankruptcy protection at the end of April. The chain had closed 19 stores over the prior year. Overexpansion was cited as one of the brand’s problems, along with a high turnover of CEOs and heavy-handed cost cuts. Kona cycled through four leaders in the year preceding the bankruptcy filing. Williston’s intentions for the acquired restaurants were not revealed in the filing. Rights to the Kona Grill name were not among the assets included in the deal. Kona Grills are typically large units, measuring between 5,900 and 7,400 square feet, according to Technomic data. The researcher pegged the brand’s average sales per unit at $3.7 million in 2018, down from $4.1 million the prior year. Jundt resigned as CEO of Kona in March after serving in the role for just a few months. Williston currently operates about 50 restaurants under 10 brands, including Casa Ole, Monterey’s Little Mexico and Uberrito Fresh Mex. – Source: Restaurant Business.
- Who We Are
Our Mission:
"…to be the highest quality provider of human capital to our clients.”
- What We Do
Human Captial Management Solutions That Work
Being Better often requires assistance from others who can help get your there.
- Employers
Welcome Job Seekers
Our #JobSquad has assembled everything Job Seekers need, to beBetter.
- Job Seekers
Welcome Employers
Our #JobSquad has assembled everything Employers need, to beBetter.
- Blog
Ways for you to beBetter
Tips, tools and perspectives for job seekers, employers as well as general information on ways to beBetter.
- Connect
Get Connected:
Connect easily with our Corporate Office or with any of our Franchise locations.Corporate Office, Coral Springs, FL
(954) 493-9200 info@ariteam.com
Atlanta, GA
(770) 433-2220 iphillip@ariteam.com
Chicago, IL
(312) 780-7510 cwilson@ariteam.com
Dallas - Ft. Worth
(469) 922-2048 jsosa@ariteam.com
(469) 922-2096 eroshan@ariteam.com
Davie, FL
(954) 990-4545 frankc@ariteam.com
Manchester, NH
(603) 825-5520 van@ariteam.com
Simpsonville, SC
(864) 900-2144 matt@ariteam.com
(864) 900-2144 grace@ariteam.com
- Search Jobs
Featured Jobs
- Restaurant Equipment Sales - Dealer Sales Rep - Athens GAWe are working with a growing national dealer/distributor of foodservice restaurant equipment, commercial...
- Restaurant Equipment Sales - Dealer Sales Rep - Athens GAWe are working with a growing national dealer/distributor of foodservice restaurant equipment, commercial...
- Restaurant Equipment Sales - Dealer Sales Rep - Athens GAWe are working with a growing national dealer/distributor of foodservice restaurant equipment, commercial...
- Restaurant Equipment Sales - Dealer Sales Rep - Athens GA
Leave a Reply
You must be logged in to post a comment.