Honestly, who knew that beer would bring Hulk Hogan and Hooters together? Oh, oh, that's everyone? Huh, well, I guess that leaves me as the only one surprised. In all seriousness, though, this is a wild turn of events. After Hooters goes bankrupt, Hulk Hogan jumps in to save the day. According to Fox Business, Hulk Hogan's Real American Beer is set to offer an all-cash bid for Hooters' Intellectual Property. Yep, the beer owned by one of WWE's biggest names is stepping up big for all the single guys and middle-aged men.
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Hooters Being Bought?
Yeah, well, that's what can happen when you file for bankruptcy. Yep, I didn't know that either! Apparently, the company filed for Chapter 11 bankruptcy back in March of this year. Chapter 11 bankruptcy allowed them to restructure some of their debt while they continued to operate. So naturally there was no way they were going to shut down.
This move by Real American Beer is just one step in a much bigger game plan...brother. But really, it is. The brand is trying to expand and buy up legacy brands. With these legacy brands, they hope to build an entertainment brand that is equal parts entertaining and patriotic.
With this purchase of Hooters, Hulk Hogan hopes to explode it all over different platform,s but rebranded for a new generation. You know, typical new purchase things.
How Does This Affect Hooters?
The good news is, it doesn't! Well, definitely not negatively. This is exactly what the struggling restaurant chain was hoping for.
The current CEO, Sam Melilli, of Hooters said on the subject, "Today's announcement marks an important milestone in our efforts to reinforce Hooters' financial foundation and continue delivering the guest-obsessed hospitality experience and delicious food our customers and communities have come to expect."
And there should be some good money to play with for the brand as well.
Hulk Hogan's beer is already the second most popular light-beer brand in the country. Just beyond Sam Adams and his cousin from Boston. And this is after less than a year of its founding. Oh, and it's the official beer of the WWE. That never hurts.
