Kyle Cooke didn’t hold back when he sat down with his Loverboy employees to pull back the curtain on the beverage brand’s dire finances during In The City Season 1, Episode 3.
“So, just to be brutally honest, right? We have enough money in the bank to basically last ’til the end of the year,” he said during the June 2 episode, and added, “We have to just continue to do a lot with a little.”
It comes after Kyle admitted Loverboy was on the verge of bankruptcy during an investor call on Summer House Season 10, Episode 8, and estimated Loverboy could only last “six months at most” based on its cash reserves.
In the June 2 episode, Kyle laid out his current attempts to salvage his business: “We are talking to partners that could buy a minority or majority stake in us. But those conversations are happening way slower than I would like.”
He continued, “We basically have to find ways, creatively, to get revenue up—to extend the ‘runway,’ right?”
Dylan, Loverboy’s director of social media and influencer strategy, voiced her concerns. “When I hear my CEO say, ‘Hey, we’re running out of cash by the end of the year,’ like, am I looking for a new job?” she asked.
Kyle reassured her he was doing all he could to save Loverboy. “I can’t tell you, ‘Don’t go look for another job.’ I can tell you that I’ve put my blood, sweat and tears—and marriage—into this,” he answered.
Kyle Cooke gives new insight into Loverboy’s financial status now
Loverboy is still up and running, and Kyle recently gave a peek into what the beverage brand has been cooking up as it works to stay in business. Hot on the heels of Carl Radke and Lindsay Hubbard’s viral social media ad responding to Amanda Batula and West Wilson’s relationship reveal, Loverboy has been creating new “Carl’s A Mess” merch, with part of the proceeds benefitting charities.
Kyle thanked fans for their support of Loverboy during an April 2 Instagram reel: “This is the most amazing, most diehard, loyal community that anybody in my shoes could be a part of. So, there’s not a day that goes by that I’m not fortunate and blessed.”
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Loverboy has also been releasing new drink products, including the Flirty Shirley. “It’s been a long time in the making,” Amanda shared of the beverage during the June 2 episode. “Kyle and I shot the collab over the summmer [of 2025] with [athleisure brand] Boys Lie for our new Shirley Temple drink. Then, we have a whole line of clothing that we’re doing with them too.”
Kyle Cooke recounts Loverboy’s monetary struggles
In case you need a refresher, Kyle first divulged the extent of Loverboy’s financial struggles during Summer House Season 10, Episode 2, when he admitted he put $500,000 of his own money into the company, and stopped paying himself a salary.
Kyle’s financial struggles put a strain on his friendship with Carl, after he declined to invest in Soft Bar, Carl’s alcohol-free bar in Brooklyn.
“I said point-blank, I cut a half-a-million-dollar check into Loverboy to literally meet payroll,” Kyle explained during Episode 6. “So, I told Carl, I’m like, ‘Look, bro, I love you, I believe in you, and this is not personal, but I’m literally on the hook financially for my own business.'”
RELATED: Why Amanda Batula Had To Pay Kyle Cooke $117,000 Last Year
Kyle opened up to Ben Waddell about another part of his Loverboy worries: the $4 million loan he personally guaranteed.
“There’s $2.1 million left on the loan,” Ben recounted during Episode 8. “So if Loverboy tanks, then he’s bankrupt and he’s lost everything… What must be going through his head 24/7 at the moment is, ‘If Loverboy’s bankrupt, I’m bankrupt also.’”
Kyle’s worries continued during In The City’s series premiere, as he admitted to producers, “I’m basically on the financial brink of disaster.”
He revealed that’s one part of why he’s more recently focused on his DJ career. “That’s one of the reasons I started DJing—to pay the bills,” he candidly told his friend and Loverboy investor Kenny Martin.
Don’t miss Kyle opening up on his friendship journey with Lindsay.
