1 year ago
44
Instant Brands, which blames rising interest rates for financial problems, will continue to serve retailers
The maker of Pyrex kitchenware and the Instant Pot pressure cooker has filed for bankruptcy protection, blaming rising interest rates for its financial difficulties.
Instant Brands, which is controlled by the private equity investor Cornell Capital, said late on Tuesday that it had filed for Chapter 11 bankruptcy protection in the Southern District of Texas as it tries to restructure liabilities of as much as $1bn (£790m).
Continue reading...