Hulk Hogan could be saving Hooters.
The enduring restaurant filed for Chapter 11 chapter again in March, however going out of enterprise by no means seemed to be an choice.
In a press launch printed on the time, Hooters defined that it had entered right into a restructuring help settlement (RSA) with “near unanimous support from its key stakeholders.” Chapter 11 chapter safety permits companies to restructure their money owed whereas they proceed to function.
Properly, Hulk Hogan’s Actual American Beer is doubtlessly set to supply an all-cash bid for the Hooters mental property, an individual acquainted instructed FOX Enterprise Digital.
The bid is a key step in Actual American Beer’s enlargement into buying legacy properties that align with its rising portfolio and mission to construct a way of life platform that’s as entertaining as it’s patriotic.
Pending acquisition, the model plans to relaunch Hooters throughout client merchandise, digital content material, gaming, and experiential codecs, however re-energized for at present’s generations.
Hooters was based in Hogan’s hometown of Clearwater, Fla., and was one of many first accounts to hold Actual American Beer after its launch.
Hooters has remained open regardless of the chapter submitting.
“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,” restaurant CEO Sal Melilli mentioned on the time.
Hogan’s model lately hit cabinets in Walmart shops in eight states final 12 months, lower than one 12 months after its founding.
It’s the official beer of WWE, and it trails solely Samuel Adams because the most-popular mild beer.
Its identify is an ode to Hogan’s entrance music, titled “Real American.”
FOX Enterprise’ Andrea Margolis contributed to this report.
