Why the Hoonigan $1.2B BANKRUPTCY Situation is CRAZY

Hoonigan is a brand if you are a car guy - we all know and love. However Hoonigan or formerly known as Wheel Pros has now filed for Chapter 11 bankruptcy with a HUGE amount of debt to try and conquer. So what's the future for Hoonigan Wheel Pros? Let's talk about it with an oversimplified version of Chapter 11 Bankruptcy explained.
#hoonigan #wheelpros #cars #automotive

[vin_tra]

Cool to hear we inspired you to get started. I used to joke that we paved the road for a lot of automotive YT… then we broke down on the side of the road and all the creators passed us. And that was years ago. Now it’s just a shell of a brand.

[thathemiguy]

It's sad to see the reputation of hoonigan get trashed the way it has ever since Ken died.

[Mopar_logic]

Private equity company ruined another brand.

[vin_tra]

Name change- yes WP wanted to go public under Hoonigan because it was a most notable name. But instead they ran it into the ground. Which was hilarious because they didn’t care when guys like Hert, Brian, myself and then all the team left. But when the audience turned on them, they didn’t know how to handle it and they haven’t won them back since.

[justintrinchini]

Donut Media will probably be next unfortunately, virtually all of the OGs have left which was the main reason why many of us were watching in the first place. It’s just not the same without James and Zack and the others

[Cakebattered]

Hoonigan got bought out, then the new owners take out tons of loans against Hoonigan to pay themselves back for the purchase and then some. They then leave Hoonigan holding the bag, while the owners already got their money back. We saw this with Toys R Us.

[turboboy]

i have been saying for a VERY VERY long time that it is sad what Hoonigan has become. they used to do soooo much awesome stuff and now the channel turned into "THIS VS THAT".

[KonnieW]

Daily Transmission was part of my morning routine, damn

[Mikeyabrea]

Wearing a hoonigan branded anything now, is like wearing a Tapout shirt lol.

[Saleen]

Sad to see this is how Hoonigan has ended up. I hope that someone or something can revive it back to the brand it once was.

[JaredR]

I honestly never thought after Ken’s death it would go downhill like it did. On one hand I’m glad to see the OGs do their own own thing and branch out. On the other hand I miss the old gang. The chemistry with everyone was top notch and and a blast to watch. I miss those days but am excited to see where the others are at now

[Jasontyo]

Hoonigan deserved better.
Those early days of the games they played on the dock were just incredible. Now Hert's channel is the only thing that feels even a shred like the old hoonigan.

[TheStorkSR]

Wheel Pros rebranding themselves as Hoonigan remains the second strangest business decision I've seen that has happened in recent years. You purchase Hoonigan and then immediately dilute the value of the brand you just purchased by slapping the name onto your corpo with no understanding as to why people latched onto it in the first place.

[massgrave_]

over a BILLION dollars in debt? a BILLION???? holy smokes.

[placeholder]

When I heard about this bankruptcy, my first response was "oh, since when did Hoonigan make wheels?" and then I found out it wasn't even really Hoonigan and they didn't make wheels. They sold them.

[黒キツネ-九零二一零]

damn. ever since ken block died, hoonigan has been dilapidating. I'll give lia props for TRYING to keep hoonigan from hitting the ground, but even that didn't help.

...sucks that BBS and recaro also suffered the same fate. the companies that i grew up with are dying before my very eyes.

[someperson]

As someone that was in the Tech industry at the time of the AOL/Time Warner merger I remember being shocked that Time Warner bought AOL. AOL was already peaked and getting ready to crash hard. High Speed Internet was proliferating, AOL was dial up, everyone was embracing alternate browsers and AOLs browser was widely mocked. Their instant messenger product was cloned by Microsoft, Yahoo, and ICQ, and webmail was starting to beat out using a client for email. There was no reason at all for anyone to use AOL by that time unless they were already in the AOL ecosystem and the people that were in were getting made fun of as being non-technical. It was always going to fail hard and Time Warner just attached themselves to that sinking ship.

[CrustyShackleford]

i miss the days when hoonigan was getting noise complaints from the local elementary school because of all the parking lot hooning... the raw nature of it that made it feel relatable and attainable. More production value does not equate to good content.

[williampalmer]

Sounds like the same corporate marketing geniuses that want to label every Ford car a Mustang.

[klndthu]

Thanks for the video. I was initially confused how Hoonigan had racked up so much debt. I had no idea that Wheel Pros was that huge and that they bought Hoonigan and rebranded to Hoonigan.