Hogan’s Beer Leads Bid for Bankrupt Hooters

Hulk Hogan's Real American Beer is leading a high-profile bid to acquire Hooters of America, which filed for bankruptcy earlier this year and has recently closed over 25 locations. The bid includes a plan to modernize Hooters' menu, expand merchandise offerings, and target a younger demographic to restore the brand's relevance. CEO Terri Francis stated that their proposal involves shifting Hooters to a franchise-only business model. The bid faces competition from a group led by Hooters' original co-founder and must overcome bankruptcy court approval, settlements with bondholders, and US liquor laws that prevent direct restaurant ownership by alcohol brands. Despite these challenges, both Hooters and the Real American Beer team remain optimistic about revitalizing the brand. Hooters continues to uphold its legacy while navigating closures and industry changes.