Struggling Kona Grill has a new owner, although it’s far from a stranger. The Scottsdale, Arizona-based brand was dealt to Williston Holding Co. Inc., the company founded by Marcus Jundt.
Kona Grill’s carousel of leadership over the past two years could now extend into ownership.
Kona Grill was delisted from the Nasdaq Global stock exchange on April 25 after the company failed to pay its annual fee.
Kona Grill said in an April 22 filing that it was recently notified by Nasdaq that it could face delisting on the stock market if it fails to pay “certain fees,” by April 25.
The situation could go from bad to worse for Kona Grill.
Marcus Jundt, the chief executive of struggling polished-casual chain Kona Grill, resigned from his post, effective March 31, the company revealed in a securities filing Friday.
Kona Grill is undergoing another major change at the beginning of 2019.