Two weeks ago, struggling Kona Grill unexpectedly closed its 10-year-old location at High Street restaurant in northeast Phoenix. Today, it shuttered the 12-year-old location at Chandler Fashion Center.
That leaves the Scottsdale-based Asian fusion concept with just three Arizona locations, including a sole East Valley one at SanTan Village in Gilbert, and about 40 nationwide.
As I mentioned two weeks ago, Kona Grill has experienced worsening financial woes in recent years.
Same-store sales fell 5.9% in 2017 and 11.6% in the first nine months of 2018, leading to the November resignation of CEO Jim Kuhn just three months after he was hired.
Marcus Jundt, one of Kona Grill’s founders, and Steve Schussler took over as co-CEOs. But Schussler resigned in January, and Jundt stepped down last week.
