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casual dining

Financing

Kona Grill files for bankruptcy protection

The company closed an additional 15 locations and is up for sale, blaming overly aggressive growth, cost cuts and a stock buyback for its poor finances.

Topics

Polished-casual chains tap an indie vibe

This upscale full-service segment is thriving while some in casual-dining sputter.

These chains grew sales enough to make it onto this year’s ranking.

Lawsuits between the chain and former Chief Executive Jim Kuhn paint a picture of a company that grew too fast, then cut too many costs to survive, says RB’s The Bottom Line.

The struggling casual-dining chain appointed a restructuring specialist as CEO and said a bankruptcy filing is possible.

The board of directors said that the $11.75-per-share proposal “dramatically undervalues the company.”

Large shareholder Ancora Advisors proposed paying $11.75 per share, saying the company would be better off private.

The struggling chain has shuttered a quarter of its locations since 2017.

Overreactions to profit challenges can sometimes cause more problems than they're worth, says RB’s The Bottom Line.

Board Chair Pattye Moore will serve as the interim CEO as the company looks for a successor

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