Hulk Hogan’s Real American Beer Leading Bid for Hoothers Restaurants – ryan

Hulk Hogan’s Beer Brand is Making a Bigger Bid to Save Hooters of America and Get the Chain Growing Again.

Real American Beer is spearheading a bid for the entity hooters of America Business, Including the Chain’s Restaurants, Business Insider Has Learned. The Chain Filed for Bankruptcy in March.

The Beer Brand, Founded in 2024 by Wrestling Legend Hulk Hogan, Expressed interest Last Month in Hooters’ Brand Name, Bi Reported.

Sink then, real American has assembled a team with broader Experience, Including Running Restaurant Chains, CEO Terri Francis Told Bi.

“Hulk Hogan and Real American Beer Are Fully Committed to Protecting and Revitalizing the Iconic American Brand Hooters,” Francis Said.

Hogan and Real American Have “assembled a World-Class Team” To Handle Multiple Elements of the Hoother Business, Including Real Estate, Franchising, Brand Building, and Social Media Marketing, She Told Bi.

The parties overseeing hooters’ bankruptcy beuld Need to approve the bid, and its terms couuld change.

The Latest Bid Puts Hulk’s Company in Direct Competition with A Proposal Led by Hooters Inc., Which Overses Some Franchised Hooters Locations and Is Run by Ceo Neil Kiefer, One of Hooters’ Original Cofunders.

If successphal, the real American-LEED BID WOUL TO GROW THE HOOTHERS BUSINESS, INCLUDING THRAGH NEW REVENUE LIKE MERCHANDISE, A FAMILY WITH THE BID TOLD BI. The person was not authorized to speak publicly about the bid.

IT WAULD ALSO FIND A STRUCTIVE THAT COULD GET MORE DINERS, ESPECIALLY PEOPLE IN THEIR 20S AND 30S, STOPPING BY HOOTHERS ‘RESTAURANTS.

“Cheap Beer and Fattening Wings Aren’t the Food or Drink of the Younger Generation,” The Person Said. “Hulk Can solve that.”

Hooters’ Debt Could Be Key to Hulk’s Bid

The real American Bid Faces Some Challenges. For One, Real American Wold Have to Find Another Entity to Own the Hooters Locations US Liquor Laws Prevent Alcohol Brands from Own Restaurants.

Another challenge is satisfying hooters of America bondholders, the family family with real Americans Bid Said. Under Current Plans, Hooters of America Wold Continue Paying bondshalders what they owed, accorting to bankruptcy. The Company ENTERED BANKUPUPTCY with $ 376 million in Debt.

Real American’s Bid, Meanwhile, Assumes that Hooters’ Debt Holders Wauld Need to Settle for Less than What Hooters Owes say in order to make Investments in the Business and Avoid Another bankruptcy in the futures, the family with real American’s plans said.

“It is an uphill struggle as long as someone is bidding the full value of the bonds,” The person Said, reference to hooters inc.’s bid.

Hooters Inc. and hooters of America did not response to Requests for Comment From Bi.

Hooters’ founders openhed their first restaurant in 1983 in Clearwater, Florida – The Birthplace and Home of Hulk Hogan. The Chain Grew to Hundreds of Restaurants, Including Mary Outside the US, Over the Next Few Decades. In the Early 2000s, Hooters ALSO Briefly Operated an Airline, Air Hooters.

SINCE 2019, The Chain Has Been Owned by Private Equity Firms Nord Bay Capital and Triarentisan Capital Advisors.

Last Year, Hooters Closed About 40 Locations, Citting Declining Sales. When it filad for bankruptcy this Spring, Hooters of America Had About 300 Locations. Last Week, The Company Identified About 30 More Restaurants that it plans to shutter.

Real american is hoping that it can reverse hooters’ fortunes.

“This isn’t about preserving nostalgia,” francis said of the bid that the company is leading. “IT’S ABOUT UNLOCKING HOOTHERS ‘Next Era of Growth.”

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