Instant Brands, the parent company behind the beloved Instant Pot and Pyrex cookware, has recently filed for Chapter 11 Bankruptcy in Texas. The announcement came as a surprise to many, given the popularity of Instant Pot among millennials and Gen Z.

Who owns Instant Brands?

Instant Brands, based in Downers Grove, Illinois and owned by Cornell Capital LLC, has established itself as a prominent player in the small kitchen appliances and houseware products industry. With a global reach, the company designs, manufactures, and markets a wide range of innovative and practical products that cater to the needs of modern consumers.

The crown jewel of Instant Brands is the Instant Pot, a versatile and multi-functional pressure cooker/slow cooker/steamer/rice maker that has taken the culinary world by storm.

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The Instant Pot has become a favorite among millennials and Gen Z, offering a convenient solution for busy individuals seeking to create delicious meals with minimal effort. Its popularity has skyrocketed due to its ability to prepare a wide variety of dishes, from soups and stews to desserts and even yogurt.

In addition to the Instant Pot, Instant Brands boasts a portfolio of other well-known brands, including Pyrex cookware, CorningWare, and Chicago Cutlery. The company’s commitment to delivering top-notch products has earned it a loyal customer base worldwide.


However, despite its success, Instant Brands recently faced challenges that led to the filing for Chapter 11 Bankruptcy. The company cited global macroeconomic and geopolitical factors, as well as rising interest rates and tightened credit terms, as significant obstacles to its financial stability. These challenges impacted the company’s liquidity levels and made its existing capital structure unsustainable.

To address these difficulties, Instant Brands is seeking $132.5 million in financing. If approved by the court, this funding will enable the company to repay its creditors and navigate through the bankruptcy process. Instant Brands remains dedicated to fulfilling its stock requirements for retail partners without disruption, ensuring the continued availability of its products to consumers.

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Furthermore, Instant Brands has reassured its former employees and retirees that their benefits will be met despite the bankruptcy filing. This commitment reflects the company’s values and its understanding of the importance of supporting its workforce during challenging times.

While Instant Brands undergoes the bankruptcy proceedings, it is worth noting that the company’s brands outside the United States and Canada are not affected. This demonstrates Instant Brands’ intention to protect and maintain the integrity of its brands on a global scale.