Hulk Hogan Real American Beer looking to save bankrupt Hooters

Hulk Hogan to Potentially Save Hooters

Chapter 11 bankruptcy was looming over the iconic restaurant Hooters, but a potential savior has emerged in the form of Hulk Hogan.

Despite filing for Chapter 11 bankruptcy protection in March, Hooters was determined to stay afloat. The restaurant entered into a restructuring support agreement (RSA) with the majority of its key stakeholders supporting the decision.

Real American Beer, a brand associated with Hulk Hogan, is reportedly considering an all-cash bid for the Hooters intellectual property. This move aligns with Real American Beer’s strategy of acquiring legacy properties that resonate with its growing portfolio and patriotic mission.

If the acquisition goes through, Real American Beer plans to revitalize Hooters across various platforms, including consumer products, digital content, gaming, and experiential formats, catering to today’s audiences.

Hooters has a special connection to Hogan as it was founded in his hometown of Clearwater, Florida. The restaurant was one of the early adopters of Real American Beer when it first launched.

Despite the bankruptcy filing, Hooters has continued its operations.

“Today’s announcement is a significant step in our efforts to strengthen Hooters’ financial standing and uphold the guest-centric hospitality that our customers have come to love,” said Hooters CEO Sal Melilli.

Real American Beer, Hogan’s brand, made its way to Walmart shelves in eight states within a year of its launch. It has become the official beer of WWE and is the second most popular light beer after Samuel Adams.

The brand’s name pays homage to Hogan’s iconic entrance music, “Real American.”

FOX Business’ Andrea Margolis contributed to this report.