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Pyrex

All articles tagged with #pyrex

shopping2 years ago

Costco's Affordable Kitchen Essentials Fly Off the Shelves

Costco is currently selling an 18-piece Snapware Pyrex set for $19.99, $5 off the original price. The set includes 9 glass containers with airtight and leak-proof lids, making it a sleek and sturdy alternative to plastic storage containers. Pyrex glass is oven safe, non-toxic, and dishwasher-safe, making it versatile for various kitchen uses. While the online price is $30.99, the deal is available in-store at Costco.

business2 years ago

Bankruptcy Hits Popular Kitchen Brands and Private Equity Firms Turn to It for Higher Yields

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.

business2 years ago

Parent Company of Instant Pot and Pyrex Files for Bankruptcy

Instant Brands, the parent company of popular kitchenware brands like Pyrex and Instant Pot, has filed for Chapter 11 bankruptcy protection. The company has over $500 million in both assets and liabilities. The move will give the company "time and flexibility" for ongoing discussions with financial stakeholders to move forward in a way that "strengthens the company’s financial position." The company faces challenges, including "tightening of credit terms and higher interest rates," after weathering the COVID-19 pandemic.

business2 years ago

Instant Pot and Pyrex parent company files for bankruptcy protection.

Instant Brands, the parent company of Pyrex and Instant Pot, has filed for Chapter 11 bankruptcy protection due to an unsustainable capital structure caused by the COVID-19 pandemic's impact on liquidity levels. The company has over $500 million in both assets and liabilities. Instant Brands received a $132.5 million commitment for new debtor-in-possession financing from its existing lenders to support the business during the process. Sales of electronic multicooker devices, including Instant Pots, peaked at $758 million in 2020 but dropped by 50% within the last year to just $344 million.

business2 years ago

Kitchenware Company Seeks Bankruptcy Protection in US

Instant Brands, the maker of Pyrex kitchenware and Instant Pot pressure cooker, has filed for Chapter 11 bankruptcy protection in the US, citing rising interest rates as the reason for its financial difficulties. The company plans to restructure its liabilities of up to $1bn and continue serving retailers without interruption while seeking to prevent the sale of its brands. Instant Brands has received a commitment for $133m in financing from its existing lenders to see it through the bankruptcy process.

business2 years ago

Instant Brands, Parent Company of Instant Pot and Pyrex, Files for Bankruptcy Amid Sales Decline.

The parent company of Instant Pot and Pyrex, Instant Brands, has filed for Chapter 11 bankruptcy protection due to global macroeconomic and geopolitical challenges, tighter credit terms, and higher interest rates. The company plans to continue operating while it restructures. Instant Brands' portfolio of brands includes Corelle, Snapware, CorningWare, Chicago Cutlery, and Visions cookware.

business2 years ago

Instant Brands, Maker of Pyrex and Instant Pot, Files for Chapter 11 Bankruptcy.

Instant Brands, the maker of Pyrex glassware and Instant Pot, has filed for Chapter 11 bankruptcy protection due to inflation and lower consumer spending on home products. The company has more than $500 million in both assets and liabilities. Sales of Instant Pots have declined 50% since the start of the pandemic, and the company's net sales decreased 21.9% in the first quarter of fiscal 2023. Instant Brands has received a commitment for $132.5 million in new debtor-in-possession financing from its existing lenders.

business2 years ago

Instant Brands, Creator of Popular Kitchen Appliances, Declares Bankruptcy.

Instant Brands, the maker of popular household products such as Instant Pot, Pyrex, and Corelle, has filed for Chapter 11 bankruptcy. The company cited tighter credit and higher interest rates as the reasons for the filing, but also noted its rapid growth since the start of the pandemic. The bankruptcy filing allows the company to reorganize and shed debt while staying in business. Instant Brands has received $132.5 million in additional financing from its existing lenders as part of the bankruptcy process.

shopping2 years ago

"Get up to 30% off on Instant Pot, Pyrex, and more with Instant Brands sale"

Instant Brands, the makers of popular kitchen goods like Instant Pot and Pyrex, are offering sitewide discounts of up to 30% off during their Semi-Annual Sale. The sale includes savings on a variety of well-known and highly-rated brands, including Corelle, Corningware, Snapware, Chicago Cutlery, and Zoid. Discounts of 15% off orders over $79.99 and 30% off orders over $149 will be automatically applied at checkout.