Kyle Cooke’s Loverboy company was a major topic of conversation during the recent episode of Summer House. Carl Radke spoke to his then-fiance Lindsay Hubbard about returning to the company to work the non-alcoholic line. Naturally, that whole conversation led to a fight between the former couple.
But the more shocking news regarding the company that sells hard teas, cocktails, spritzes, and non-alcoholic teas was a financial one. Kyle revealed during a confessional interview that Loverboy was in the red as of the Summer of 2023.
Kyle didn’t want Amanda to step away when Loverboy was being “tested”
The topic came up after Kyle’s wife, Amanda Batula, revealed her desire to start a business of her own. She functioned as the Loverboy Creative Director for years but felt she needed to forge an identity of her own.
Kyle seemed less than thrilled by the idea of his wife stepping away from the business. And in a confessional interview, the founder and CEO revealed the shocking truth about Loverboy’s finances.
“For the last three years, we were running a profitable business,” Kyle said. “We assumed we’d be profitable this year even when we grew our team and grew our expenses. But right now, we are losing money.”
Amanda is very well aware of the fact. The duo were filmed discussing the company’s losses for Summer House Season 8.
“Nick just filled me in that we lost $1.5 million the first six months of this year,” Kyle explained. “If we can’t turn a profit in August, then I’m starting to lose hope that we’ll do it in the colder months. This is the first time I’m actually scared.”
“We’ve worked so hard, we’ve gotten it so far, and we’re now being really tested,” he added in a confessional interview. “And it’s at this moment that Amanda seemingly wants to bail?”
Perhaps it’s this situation that has made Kyle unsure about having children as well. He spoke about wanting to be more in “lock-step” with Amanda in previous episodes before starting a family.
Catch Summer House Thursdays at 9/8.
TELL US – WHAT IS YOUR REACTION TO LOVERBOY’S FINANCIAL SITUATION? WERE YOU SURPRISED ABOUT THE NEWS? DOES IT EXPLAIN CERTAIN BEHAVIORS FROM KYLE THIS SEASON?