Hulk Hogan's Real American Beer Submits Bid To Buy Hooters

Hulk Hogan's Real American Beer brand have officially submitted a bid to buy the chain of Hooters restaurants.

According to Business Insider, Real American Beer is looking to secure the entire Hooters of America business, which filed for bankruptcy in March with $376 million in debt.

Last month, it was reported that Real American Beer was interested in buying Hooters' intellectual property. Since then, the company has assembled a team with broader experience (including running restaurants) as it seeks to buy the business outright.

However, there could be stumbling blocks to Real American Beer's bid. For a start, the company would have to find another entity to own the physical restaurant locations, as US liquor laws prevent alcohol brands from owning restaurants. The parties overseeing Hooters' bankruptcy would also have to approve the bid, while Hooters of America bondholders would need to be satisfied as well.

Hooters' founders opened the first Hooters restaurant in 1983 in Clearwater, Florida, which is the birthplace and home of Hulk Hogan.

The two-time WWE Hall of Famer (who recently underwent neck fusion surgery) has had a turbulent time of late, which has included himself and Real American Beer being sued.

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