Spekulatius Posted May 2, 2019 Share Posted May 2, 2019 Another example of a great capital allocator and hedge fund manager CEO at work. Link to comment Share on other sites More sharing options...
stahleyp Posted May 2, 2019 Share Posted May 2, 2019 Another example of a great capital allocator and hedge fund manager CEO at work. I've not been following this much but who's that? Link to comment Share on other sites More sharing options...
Spekulatius Posted May 2, 2019 Share Posted May 2, 2019 Another example of a great capital allocator and hedge fund manager CEO at work. I've not been following this much but who's that? The stock's recent malaise seems to stem from the company's decision to rapidly accelerate unit growth under CEO Berke Bakay, who was a board member (and hedge fund manager) before taking over the top job. Previous management teams had opened new units in poor locations and several were closed shortly thereafter. After stabilizing the unit base and hiring a development veteran from PF Chang's, Bakay led Kona in opening 7 new units in 2015 and 8 in 2016, expanding the unit base by 50% in just two years. Link to comment Share on other sites More sharing options...
stahleyp Posted May 2, 2019 Share Posted May 2, 2019 Another example of a great capital allocator and hedge fund manager CEO at work. I've not been following this much but who's that? The stock's recent malaise seems to stem from the company's decision to rapidly accelerate unit growth under CEO Berke Bakay, who was a board member (and hedge fund manager) before taking over the top job. Previous management teams had opened new units in poor locations and several were closed shortly thereafter. After stabilizing the unit base and hiring a development veteran from PF Chang's, Bakay led Kona in opening 7 new units in 2015 and 8 in 2016, expanding the unit base by 50% in just two years. thanks, spek! Link to comment Share on other sites More sharing options...
Foreign Tuffett Posted June 26, 2019 Share Posted June 26, 2019 This is a fun read: https://www.businessinsider.com/kona-grill-bankruptcy-fight-ceo-lawsuit-2019-5 Link to comment Share on other sites More sharing options...
Guest roark33 Posted September 3, 2019 Share Posted September 3, 2019 https://www.sec.gov/Archives/edgar/data/1399520/000155837019008427/ex-99d1.htm Link to comment Share on other sites More sharing options...
DTEJD1997 Posted October 20, 2019 Share Posted October 20, 2019 Hey all: It is kind of official now. KONA shareholders gets nothing! Please see: https://www.bizjournals.com/phoenix/news/2019/10/16/kona-grill-investors-get-nothing-back-from-25m.html?ana=yahoo&yptr=yahoo Stock was last trading at $.0065. Interesting thing is that after closing a bunch of location, KONA might be a half way decent chain. STKS is buying the assets out of bankruptcy. They might be able to run KONA reasonably well in it's scaled down form. The whole thing was kind of crazy. KONA was probably a decent chain when it had a dozen or so locations...but they pursued growth at any cost and wrecked it all. Link to comment Share on other sites More sharing options...
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