Bankrupt Hooters Gets Lifeline from Hulk Hogan’s Real American Beer Company

Wrestling legend Hulk Hogan may play a surprising role in reviving the Hooters restaurant chain as it navigates bankruptcy proceedings.

According to a source familiar with the matter who spoke to FOX Business Digital, Hogan’s Real American Beer is preparing an all-cash offer to acquire the Hooters intellectual property.

TMZ Sports reports Hulk Hogan’s company, Real American Brands, is bidding to acquire the Hooters intellectual property. The aim is to revitalize the chain, representing “freedom, grit and good times.” Real American Brands stated, “Hooters is part of the American story,” and they… pic.twitter.com/hWKxxmbpDG

— Wrestling News (@WrestlingNewsCo) May 16, 2025

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The potential bid follows Hooters’ March 2024 filing for Chapter 11 bankruptcy protection, a legal process that allows companies to restructure debt while continuing operations.

In a press release issued at the time, the company emphasized that it had entered into a restructuring support agreement (RSA) with “near unanimous support from its key stakeholders.”

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The company has remained operational during the restructuring.

Real American Beer, founded less than a year ago and already distributed in Walmart stores across eight states, is seeking to expand its footprint by acquiring legacy brands.

The beer is named after Hogan’s iconic wrestling entrance song, “Real American,” and serves as the official beer of WWE.

It is reportedly the second-most popular light beer in its category, trailing only Samuel Adams.

If the bid proceeds and is successful, Real American Beer plans to reintroduce the Hooters brand across several modern platforms, including consumer products, digital content, gaming, and experiential formats.

The intention is to preserve the brand’s identity while updating it for younger audiences.

Hooters, known for its casual dining environment and waitstaff, was originally founded in Clearwater, Florida—Hogan’s hometown—and was among the first accounts to offer Real American Beer when it launched.

Though the brand filed for bankruptcy earlier this year, it has not closed its doors. Sal Melilli, CEO of Hooters, commented on the company’s outlook at the time of the filing: “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.”

The proposed acquisition would mark a significant step for Real American Beer as it transitions from a beverage label into a broader lifestyle brand.

The company’s strategy reportedly includes acquiring legacy properties that align with its mission of building a patriotic and entertainment-focused business platform.

Further details of the bid, including a timeline for a potential acquisition, have not been disclosed.

The involvement of a public figure like Hogan, whose brand is closely tied to Americana and entertainment, could bring renewed attention and customer interest to the Hooters brand at a critical moment in its restructuring process.

For now, Hooters locations remain open as the bankruptcy process continues, and the industry will be watching closely to see if Hogan’s beer brand becomes the unlikely rescuer of one of America’s most recognized restaurant chains.

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