Here is a quote from the article that Feliciano sent: "The company’s sales of “electronic multicooker devices,” which primarily includes Instant Pots, reached $758 million in 2020, the start of the pandemic. Since last year sales for those products Link ‑ plunged 50% to $344 million, according to the Verge."
Richard, USA. “Reality is the leading cause of stress for those who are in touch with it.” -- Jane Wagner from The Search for Intelligent Life in the Universe My web site: https://www.turner42.com From: viphone@googlegroups.com <viphone@googlegroups.com> On Behalf Of Feliciano Godoy Sent: Wednesday, June 14, 2023 10:20 AM To: viphone@googlegroups.com Subject: Re: Enjoy your Instant Pot while it lasts - the company has filed for bankruptsy I agree. They filed for chapter 11 bankruptcy. I quote The bankruptcy process will not impact the ability to purchase products as Instant Brand will operate as usual with the help of $132.5 million in new financing. <blob:applewebdata://1f9a5281-8907-4b9b-aa09-93f8fdd7496e/2d1b5d6c-1a14-4609-8661-102443eb9017> <https://www.usatoday.com/story/money/2023/06/13/instant-pot-bankruptcy-filing/70319220007/> Instant Pot & Pyrex parent company files for bankruptcy after year of cold sales <https://www.usatoday.com/story/money/2023/06/13/instant-pot-bankruptcy-filing/70319220007/> usatoday.com Feliciano For tech tips and updates: LIKE www.facebook.com/theblindman12v <http://www.facebook.com/theblindman12v> Follow www.twitter.com/theblindman12v <http://www.twitter.com/theblindman12v> Follow www.instagram/TheBlindMan12v <http://www.instagram/TheBlindMan12v> those who are crazy enough to think they can change the world are the ones who do. -Steve Jobs On Jun 14, 2023, at 9:18 AM, Mary Otten <motte...@gmail.com <mailto:motte...@gmail.com> > wrote: It’s important to recognize the difference between the two different kinds of bankruptcy filings. Instant filed under Chapter 11, which means they are trying to re-organize, not just go out of business. Apparently they do have a financing group ready to infuse more money into their business, but it Hass to be approved by whoever it is that is in charge of bankruptcies. So it may still be around after re-organization, or it could go away via the chapter 7 bankruptcy, in which case, it is in fact gone. Sent from my iPhone On Jun 13, 2023, at 11:40 PM, Sieghard Weitzel <siegh...@live.ca <mailto:siegh...@live.ca> > wrote: I know many on the list bought into the Instant Pot craze about 4 or 5 years ago, I kept considering it and was waitiand waiting for the new Smart model (not the Bluetooth one) to come out and to be available for a reasonable price here in Canada. At one point it was somewhat reasonable, but I thought it would go on sale again and then it didn't and then it seemed to disappear. Now I just came across an article on CBC News about Instant Brands which apparently came into existance when Instant Pot and Corelle Brands merged, another rwell-known brand which is part of that company's port folio is Pyrex cookware. In the article it says that Instant Brands has gone into Chapter 11 bankruptsy protection and that the assets of the company may be liquidated. Of course it is quite possible that maybe some other outfit picks up some or all of the pieces although I believe the era of the Instant Pot and similar all-in-one cooking appliances has passed and was nothing more than a fad. In the end I am glad I didn't get one of these gadgets as I actually do like cooking according to more traditional methods making things from scratch and with local ingredients including those we grow in our own garden in the summer and fall. . 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