Although Kyle Cooke made no secret of his money worries on Summer House Season 10, revealing this was the reason he didn’t invest in BFF Carl Radke’s business, things might be worse than fans realize. In the premiere episode of In The City, the CEO slash DJ revealed his company, Loverboy, is “on the financial brink of disaster.”
The Summer House star is now appearing on In The City
In Episode 1 of In The City, Kyle met for lunch with his friend and co-star Kenny Martin. He also happens to be an investor in Loverboy, so naturally, the pair’s conversation quickly turned to business.
“There’s been so many moving parts and changes,” Kyle told Kenny, who makes his money as a successful venture capitalist. “I had to lay off five people last week. I’ve put 500K of my own money in. I literally needed to keep the lights on.”
While Kyle admitted he had been “dragging” his feet in sharing any updates on his company for that reason, he did open up about the reality of his situation in an emotional confessional later on.
“I took money from friends and family,” the founder and CEO said. “At one point, I was gonna give everyone a 25x return on their money.”
“Now, I’m basically on the financial brink of disaster,” he admitted. “That’s one of the reasons why I started DJing: to pay the bills.”
To that end, things aren’t looking good for Kyle’s beloved drinks brand. “If I don’t find a partner, either to buy Loverboy or take on our operations, we will go out of business by the end of this year,” he confessed.
In The City continues on Tuesdays at 9/8c on Bravo. It streams on Peacock the following day.
TELL US – DO YOU THINK LOVERBOY CAN SURVIVE? AND, ARE YOU A FAN OF THE BRAND?
