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Instant Brands - maker of the Instant Pot - files for bankruptcy (www.cbsnews.com)

submitted 1 year ago by gary@lemmy.world to c/news@beehaw.org

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[–] Perdendosi@lemmy.world 14 points 1 year ago* (last edited 1 year ago)

undefined>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.