by Hooters, the iconic but struggling restaurant chain, may soon be back in the spotlight.
Facing bankruptcy and declining relevance, Hooters is undergoing a major rebranding effort—and wrestling legend Hulk Hogan could play a key role in its comeback.
What Happened
Hooters has officially filed for bankruptcy in 2025 following years of declining popularity and financial struggles.
The chain is now undergoing major restructuring with the help of The Buyer Group, a PR and business consultancy.
As part of the rescue plan, Hulk Hogan—through his fast-growing Real American Beer company—is exploring an all-cash acquisition of the Hooters brand.
Key Details
- Hooters filed for bankruptcy in early 2025.
- The Buyer Group has taken control of select locations to manage operations and public image.
- CEO Sal Melilli reassured customers that Hooters is not shutting down.
- The chain is shifting to a pure franchise model to reduce costs and encourage long-term growth.
- Hulk Hogan’s Real American Beer has submitted an offer to purchase Hooters’ intellectual property.
Reactions or Statements
Sal Melilli, CEO of Hooters of America, thanked customers and staff for sticking with the brand during tough times.
Neil Kiefer, CEO of Hooters Inc. (under The Buyer Group), said the company is “going back to basics” to rebuild its identity.
Hulk Hogan’s team has not officially confirmed the acquisition but expressed interest in revamping Hooters into a lifestyle brand.
Investigation or What’s Next
The Hogan-led deal is still in progress and not yet finalized.
If completed, the plan involves transforming Hooters into a multichannel brand that includes:
- Food and beverage products
- Digital media content
- Gaming tie-ins
- Merchandise and pop culture collaborations
The hope is to modernize Hooters for younger consumers without losing its original appeal.
FAQs
Why did Hooters file for bankruptcy?
The brand faced growing competition and criticism that its concept was outdated in today’s social climate.
What is Hulk Hogan’s role in the deal?
Hogan, through Real American Beer, is aiming to purchase the Hooters brand outright to revitalize it.
Will Hooters restaurants close?
No closures have been announced. The plan is to franchise all locations and improve overall operations.
What changes are expected if Hogan’s deal goes through?
A full brand refresh that includes consumer products, media content, and nostalgic marketing.
Is this the first time Hooters has been in trouble?
No, the brand has faced criticism and financial issues in the past, but this marks its most serious restructuring effort.
Summary / Final Takeaway
Hooters’ 2025 bankruptcy could be the turning point that saves—or redefines—the iconic chain.
With backing from The Buyer Group and a potential acquisition by Hulk Hogan’s Real American Beer, the brand has a chance to rebuild its image and business. If the plan succeeds, Hooters could go from a fading restaurant chain to a revitalized pop culture powerhouse.
