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Instant Pot parent company has filed for bankruptcy

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Instant Pot was once the hot new kitchen gadget. Now it's filed for bankruptcy.

But things changed when private equity showed up to the chili cook-off. The company was acquired four years ago by the private-equity firm Cornell Capital and it wasThe PE firm was bullish about expanding its reach faster than the countertop hog could finish your carnitas.Instant Brands to come out with new gadgets, like air fryers and an air purifier .

as more people work from home, or the fact that"no product stays at a phenom level forever," according to Instant Brands CEO Ben Gadbois.

 

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Instant Brands, maker of Instant Pot and Pyrex, files for bankruptcy | CNN BusinessInstant Brands, the maker of Instant Pot, Corelle, and Pyrex, among other products, has filed for bankruptcy.
Source: CNN - 🏆 4. / 95 Read more »