Bankruptcy Hits Popular Kitchen Brands and Private Equity Firms Turn to It for Higher Yields
Originally Published 2 years ago — by Apartment Therapy
Instant Brands, the parent company of iconic kitchen brands such as Pyrex and CorningWare, has filed for Chapter 11 bankruptcy protection due to ongoing impacts of COVID-19. Vintage pieces of CorningWare are selling for thousands of dollars on eBay, making them a hot resale commodity. Instant Brands will secure $132.5 million in funding to restructure instead of liquidating its business altogether. Other beloved kitchen brands, such as Tupperware, are also facing economic uncertainty.