Kyle Cook's Financial Struggles with Loverboy: A Summer House Saga
Kyle Cook recently shared his financial struggles on the latest season of Summer House, where he disclosed that his beverage brand, Loverboy, is facing potential bankruptcy. The brand, which was established in 2018, initially focused on alcoholic beverages but expanded to include non-alcoholic drinks and THC-infused sodas, as well as merchandise like tees and sweatshirts featuring the brand name.
During a recent episode, Cook mentioned that he had to invest $500,000 of his own money into the business to keep it afloat. He also revealed that he had stopped taking a salary from Loverboy and had taken up DJing to cover his expenses. Additionally, Cook personally guaranteed a $4 million loan for Loverboy, with $2.1 million still outstanding, putting his personal finances at risk if the business fails.
The financial strain on Cook has also affected his relationships with his Summer House castmates. Carl Radke, who had invested in Loverboy in its early days, felt disappointed when Cook did not reciprocate by investing in Radke's new venture, Soft Bar. Cook explained that the dire financial situation of Loverboy made it impossible for him to invest in other businesses at the time.
As the drama unfolds on Summer House, viewers can tune in to Bravo on Tuesdays to catch the latest episodes, with streaming available the following day on Peacock. Cook's journey to navigate his financial challenges and the future of Loverboy continues to be a central storyline on the show.