The US Bankruptcy Court gave an order approving the bidding procedures relating to the sale of substantially all the assets of Kona Grill, Inc. on May 29, 2019. The Court approved the asset purchase agreement between the debtor and Williston Holding Company, Inc., the stalking horse bidder, for the sale of substantially all its assets for a purchase price of $25.44 million in cash pursuant to the asset purchase agreement, dated May 14, 2019. The debtor’s assets include it's remaining 27 restaurants and substantially all of the debtors’ other business assets and property associated with such restaurants along with assumed liabilities. To qualify as a qualified bidder, interested parties should submit their bids by July 18, 2019. The initial minimum overbid should be in the amount of at least $0.25 million. If the debtor receives any qualified bids then it would hold an auction for its assets on July 23, 2019. At the auction, the subsequent bids would be in increments of $0.1 million. The stalking horse bidder would be entitled to a break-up fee of $1 million in case of termination of the asset purchase agreement. The sale hearing is scheduled for July 25, 2019.