Instant Brands — maker of the Instant Pot — files for bankruptcy
www.cbsnews.com
Since COVID, company has faced "additional global macroeconomic and geopolitical challenges," CEO Ben Gadbois said.
  • hrimfaxi_work@midwest.socialEnglish
    1·
    2 years ago

    The most surprising thing to me is that Pyrex alone isn’t able to carry the entire corporation. They’ve also got Corelle and CorningWare. What the fuck, guys?

    • Perdendosi@lemmy.worldEnglish
      1·
      2 years ago

      Instant Brands will continue operating as usual during the bankruptcy process with help from $132.5 million in new financing.

      It’s Chapter 11 reorganization, not a liquidation. I think they’re big enough that they’re not going to go anywhere, but they have to adopt a new, much smaller, business model, since pressure cookers aren’t as cool as they were 5 years ago.