Instant Brands: Chapter 11 bankruptcy


 
J

JKalchik

TVWBB Emerald Member
www.reuters.com

Pyrex, Instant Pot maker files for bankruptcy as sales fall

Instant Brands, the maker of Pyrex glassware and Instant Pot pressure cookers, has filed for bankruptcy, saying high interest rates, tighter credit conditions and falling consumer demand made its debt load unsustainable.
www.reuters.com www.reuters.com

June 13 (Reuters) - Instant Brands, the maker of Pyrex glassware and Instant Pot pressure cookers, has filed for bankruptcy, saying high interest rates, tighter credit conditions and falling consumer demand made its debt load unsustainable.

So.... what does this all mean? Gotta admit, Pyrex, Corelle, Corningware and a few others in their line card fall squarely in the Buy It Once box for me. Okay, when we bought the house 15 years ago, we did buy a complete new set of Corelle dining ware, but otherwise..... one broken Pyrex measuring cup due to user error (raises hand,) and no other purchases since I kitted out my personal kitchen (and joined it in with my g/f.) Can't comment on the Instant Pot product line, we don't have any, and I've never used one. I do know more than a couple of people who's opinion I value do have them and are quite happy.

On the down side.... Pyrex did change the ceramic used in their glassware, and it's far from the same product it was decades ago. All about the money. Aside from being a bit more fragile, the newer formulation still does seem to be quite serviceable.

It has to be hard when your customers buy your product just once and never replace it.
 
JKalchik said:
It has to be hard when your customers buy your product just once and never replace it.
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The instant pot is good for cooking dried beans. We use ours frequently because of this.

But that appliance was somewhat of a “one hit wonder”.
 
JKalchik said:
www.reuters.com

Pyrex, Instant Pot maker files for bankruptcy as sales fall

Instant Brands, the maker of Pyrex glassware and Instant Pot pressure cookers, has filed for bankruptcy, saying high interest rates, tighter credit conditions and falling consumer demand made its debt load unsustainable.
www.reuters.com www.reuters.com

June 13 (Reuters) - Instant Brands, the maker of Pyrex glassware and Instant Pot pressure cookers, has filed for bankruptcy, saying high interest rates, tighter credit conditions and falling consumer demand made its debt load unsustainable.

So.... what does this all mean? Gotta admit, Pyrex, Corelle, Corningware and a few others in their line card fall squarely in the Buy It Once box for me. Okay, when we bought the house 15 years ago, we did buy a complete new set of Corelle dining ware, but otherwise..... one broken Pyrex measuring cup due to user error (raises hand,) and no other purchases since I kitted out my personal kitchen (and joined it in with my g/f.) Can't comment on the Instant Pot product line, we don't have any, and I've never used one. I do know more than a couple of people who's opinion I value do have them and are quite happy.

On the down side.... Pyrex did change the ceramic used in their glassware, and it's far from the same product it was decades ago. All about the money. Aside from being a bit more fragile, the newer formulation still does seem to be quite serviceable.

It has to be hard when your customers buy your product just once and never replace it.
Click to expand...
Have to agree about the Instapot. Unfortunately, I will miss Corningware, Corelle, and Pyrex much more. Still have a lot of those items in daily use going back to the rise of the Amana Radar range in the 1970's. Other than occasional accidents which produce an amazing number of sharp shards of glass, it is pretty amazing stuff and a daily workhorse in our kitchen. Hangs right in there with the Cuisinart commercial stainless cookware we got in the early 1980's!
 
Got my wife an instant pot a few years back and the air fryer lid for it the next year. We don't use the lid too often but the pressure cooker gets a lot of use. She makes yogurt in it and I do beans, stews, whole chickens and even pork ribs during the winter. Also great for cooking spuds and macaroni for salads when you don't want the extra heat in the kitchen. The air fryer lid works great for bacon and browning chickens and ribs after pressure cooking them. It's also supposed to do a good job of broiling steaks, sausages and burgers, as well as cooking frozen fries and onion rings. It's taken the place of the slow cooker and greatly reduced use of the toaster oven. As @Timothy F. Lewis says, it's definitely not a one pot wonder.
 
I bought a corningware large casserole dish a few years ago despite more than a few reviews stating that the lid didn't fit properly. Sure enough, when I got it the lid didn't even come close to fitting so I returned it. It was too expensive to have that great a defect.
 
Steve Hoch said:
I bought a corningware large casserole dish a few years ago despite more than a few reviews stating that the lid didn't fit properly. Sure enough, when I got it the lid didn't even come close to fitting so I returned it. It was too expensive to have that great a defect.
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Did it appear to be a manufacturing defect, or a design defect?
 
JKalchik said:
Did it appear to be a manufacturing defect, or a design defect?
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I don't have any idea there, I expected some play in the lid as I already have a couple of the smaller ones. The lid on this one did not even fit inside the dish.
 
Timothy F. Lewis said:
That’s it, I never buying another kitchen utensil! “Grog find sharp stick just poke food!” But, Grog might have to watch out for Yeti! Yeti come in night and eat grog for not buying expensive skillet!
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Did you see that Yeti CI? I got a good laugh out of that.
 
Love my pressure cookers. Actually thinking of getting another. Have 2 now, (one is a set) with a tall 8qt pot and a shorter wider 4qt and I also have a 6qt. Looking at a Viking one as well. Note none are electric ones. I prefer stove top. For the control
 
We have a Presto 6qt stainless pressure cooker, and a big Presto aluminum canner. Really, I don't use either enough, especially the cooker. There certainly is a degree of control, but really..... once the valve starts to trip, internal contents are nearly all the same temp, save for the layer immediately next to the heat. Hrrrrm. Might be a good weekend to make pressure cooker pot roast.
 
We use our Instant pot a lot, from desserts to stews and roasts. For two people it's a quick and easy appliance to make meals with. The air fryer not so much.
 
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JKalchik said:
We have a Presto 6qt stainless pressure cooker, and a big Presto aluminum canner. Really, I don't use either enough, especially the cooker. There certainly is a degree of control, but really..... once the valve starts to trip, internal contents are nearly all the same temp, save for the layer immediately next to the heat. Hrrrrm. Might be a good weekend to make pressure cooker pot roast.
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We had a really nice stainless pressure fryer for probably over 25 years and a slow cooker that we replaced with the Instant pot. It is really nice to set the IP to pressure cook the bone broth for 2 hours and just leave it. I would have to stay and baby sit the Fagor on the stove and be around to shut it off. This was what it looked like.
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I do see one rather significant advantage to Presto pressure cookers & canners: I can get replacement seals and other consumables right here at the local hardware out in the middle of nowhere. A few years ago, my g/f managed to lose the little overpressure safety seal and thought for sure that it wasn't replaceable. I was back in less than 30 minutes.

The timers on the electric cookers would definitely seem to be an advantage. OTOH..... not sure I'd want to leave a pressure cooker unattended. But that's me.
 
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