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One Group says it will adopt some of what’s worked for its main concept, STK.
The parties withdrew their lawsuits against each other, clearing the way for a sale of Kona to proceed.
One Group intends to use the concept as a growth vehicle. The deal has yet to be approved by the bankruptcy court overseeing Kona’s operation.
A bankruptcy court has OK'd the sale of 24 restaurants to Williston Holding, the company headed by Marcus Jundt.
A company operated by Marcus Jundt has a $27 million stalking horse bid to buy the struggling casual-dining chain.
Get Top 500 data: sales, units and YOY change, average unit volume, and company/franchise units, as well as Technomic’s analysis, growth forecast and more.
Restaurant operators can learn a lot from the decisions that led the chain to file for bankruptcy, says RB’s The Bottom Line.
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.
The casual-dining chain recently said it might be forced to file for Chapter 11 bankruptcy protection due to mounting debt and declining sales.
Nasdaq tells the struggling chain to pay its listing fees or be removed from trading Thursday morning.
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Peter Romeo highlights the moments restaurateurs miss at their own peril
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