Weeks after Hooters of America’s bankruptcy, the brand could be close to getting a lifeline from a longtime fan: wrestling legend Hulk Hogan.
Real American Beer, a brand Hogan founded in 2024, plans to submit a bid for Hooters’ intellectual property soon, a person familiar with the company’s plans told Business Insider.
If a bid was successful, it would allow Hogan and Real American Beer to create Hooters-branded merchandise, such as food and beverages, that it could distribute at restaurants, including Hooters locations, as well as at retailers and entertainment and gaming venues, the person said.
Real American would license the Hooters name back to the restaurants under the potential deal, the person added. Hogan’s company isn’t interested in acquiring or operating the restaurants, the person added.
The bid would need to be approved by parties overseeing Hooters’ bankruptcy, the person said. The person declined to say how much the bid would be worth, but said that it would be an all-cash offer. The deal is in flux, and terms and potential buyers could change.
Hooters of America, one of two companies that operate Hooters restaurants in the US, filed for Chapter 11 bankruptcy in March. The company is owned by the private equity firms Nord Bay Capital and TriArtisan Capital Advisors.
Hooters of America’s restaurants are still open during the bankruptcy process. The company plans to sell some of its locations to franchisees who opened the first locations back in the ’80s.
Hogan and Hooters have a relationship going back decades.
Hooters got its start in the 1980s when its founders opened the chain’s first location in Clearwater, Florida — the same city where Hogan was born and raised. It’s also where Hogan raised his family, and he still owns houses and attends church in the area.
Hogan also appeared at one of the restaurant chain’s locations last year when he threw TikToker Frankie Lapenna into a table, complete with a tablecloth featuring the chain’s logo.
Hooters was also one of the first places that Real American distributed its beer after launching in 2024.
“Hooters has always been a big part of his life,” the person familiar with Real American Beer’s plans told BI.
If a bid is successful, Real American Beer could distribute Hooters products using the same distributors that it already uses for its beer. Real American distributes beer at Walmart in 28 states, as well as at supermarkets including Albertsons.
While his brand might not be interested in Hooters’ locations, Hogan does have restaurant experience. He oversees Hogan’s Hangout, a restaurant near the beach in Clearwater.
In the 1990s, he also opened a now-defunct restaurant called Pastamania in the Mall of America in Minneapolis.
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