1851 Franchise LogoFranchise

In what has been a tumultuous year filled with multiple leadership changes and a bankruptcy filing, Kona Grill is up for sale. And according to a recent article in Nation’s Restaurant News, two of the casual dining chain’s former CEOs are seeking to purchase the brand.

Per NRN, court findings revealed that former CEO Berke Bakay, who left the brand in August 2018, has joined forces with (other) former CEO Marcus Jundt, who resigned in March, in Jundt’s “stalking horse” bid to buy Kona Grill.

Jundt’s Williston Holding filed its asset purchase agreement for $20.3 million, plus the assumption of $7.1 million in liabilities, the article notes. Now, Bakay’s BBS Fund has loaned Williston Holding more than $2 million as part of the asset purchase agreement.

Read the full story here.

Image Source: Kona Grill

Don’t Miss the Next Big Franchise Story

Sign up for the 1851 Franchise newsletter to get our biggest stories before everyone else

By signing up, you agree to our user agreement (including class action waiver and arbitration provisions), and acknowledge our privacy policy.

Madeline Lena

About the Author

Madeline Lena

Follow

Maddie has spent her career in the media industry, serving in various editorial roles before migrating into a hybrid content strategy and PR role with No Limit Agency. Her passion for storytelling and love of writing help her create meaningful content on behalf of her clients and fulfill No Limit Agency’s mission to tell people-driven stories. 

Maddie is a graduate of Saint Louis University, where she studied Communications with a focus in journalism and media studies as well as Sports Business. In her spare time, Maddie can be found exploring Chicago’s food scene, watching an NBA game or lamenting over her middling fantasy baseball team.

More Articles Like This