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.