News Formal

Instant Pot's Parent Company Files for Bankruptcy

  • 📰 Gizmodo
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 51%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

Feeling the Pressure: Instant Pot's Parent Company Files for Bankruptcy

“After successfully navigating the COVID-19 pandemic and the global supply chain crisis, we continue to face additional global macroeconomic and geopolitical challenges that have affected our business,” said Instant Brands president and CEO Ben Gadbois in a press release.Instant Brands—which is also responsible for Pyrex cookware, CorningWare, Chicago Cutlery, and more—announced the news via press release yesterday, cited rising interest rates and slashed credit as a reason for the filing.

The company announced the news via press release yesterday, and further disclosed that it is seeking $132.5 million in financing which, if approved by the court, will help the company pay off its remaining creditors whil“In particular, tightening of credit terms and higher interest rates impacted our liquidity levels and made our capital structure unsustainable,” said Gadbois.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 556. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Westfield Mall parent company backs out of SFLast month, Banana Republic and anchor retailer Nordstrom announced plans to close their Westfield Mall stores.
Källa: sfexaminer - 🏆 236. / 63 Läs mer »