Hulk Hogan's Death Plunges Hooters' Future Into Uncertainty

The death of WWE Hall of Famer Hulk Hogan on July 24, 2025, has wrestling fans around the country mourning the loss of an iconic legend. Some may be aware that outside the ring, Hogan (whose real name is Terry Bollea) launched a beer company in summer 2024, dubbed Real American Beer. The company had been successfully expanding its footprint in the light beer sector until the Hulkster passed away at the age of 71. It has been so successful, in fact, that it was even considering treading into the restaurant industry by acquiring the failing Hooters chain. However, with RAB suddenly finding itself without its co-founder, those plans are up in the air.

Hooters announced that it filed for Chapter 11 bankruptcy in March 2025. The company had been in financial hot water for some time, leading some to wonder how Hooters is still open anywhere. Still, the business was trying to right the ship with its move to file for Chapter 11. Real American Beer first wanted to buy the company's intellectual property but eventually opted to make a bid to purchase every Hooters restaurant worldwide, possibly saving the chain from financial ruin. However, without Hogan at the helm, it is uncertain whether those plans will ever come to fruition.

Hulk Hogan often entered the ring with Rick Derringer's "Real American" blasting through arena speakers. He decided to take that theme and run with it when he co-founded Real American Beer, a company that brews a concoction that is a far cry from an Irish Guinness. On the company's website, it boasts that RAB is "light, crisp, crushable," possibly making it a good beer to choose if you think you don't like beer. And, in true Hulkster fashion, the website states RAB is "200% American." The beer has found its way onto the shelves of major retailers like Walmart, but Hooters was among the first restaurant chains to serve it to customers.

Whoever takes the reins of RAB will have to decide if the company will move forward with the proposed acquisition, but should they do so, it won't be as easy as simply paying for the chain and calling it a day. Because of federal liquor laws that outlaw alcohol companies from owning restaurants, Real American Beer would have to create a sister company that doesn't have anything to do with brewing or distributing beer. It would be an interesting takeover were it to go through, as RAB had planned to completely revamp Hooters' business model to appeal to a younger generation. But as of now, no one knows if the bid is still in motion.