Insta Pot Declares Bankruptcy

An Instant Pot is a brand of multicooker that has gained popularity in recent years. It is a versatile kitchen appliance that combines the functions of a pressure cooker, slow cooker, rice cooker, steamer, sauté pan, yogurt maker, and warmer, all in one device. It is designed to save time and effort in the kitchen by offering a variety of cooking methods in a single unit.

Instant Brands, the maker of the Instant Pot and other household brands such as Pyrex, Snapware and CorningWare, announced on Monday that it had filed for Chapter 11 bankruptcy. The move, according to the company, will secure $132.5 million in funding to allow it to stay afloat and restructure rather than liquidate its business. The company did not respond to a request for comment on Wednesday about its sales. The Illinois-based company listed over $500 million in both assets and liabilities.

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