Instant Brands (Instant Pot / Pyrex)
Cornell Capital merged the wildly popular Instant Pot with Corelle Brands (Pyrex, CorningWare, Corelle) and loaded debt onto the combined company. Despite Instant Pot being a cultural phenomenon, the debt burden was unsustainable. Filed Chapter 11 in June 2023 with ~$500M in debt.
- FOUNDED
- 2009
- ACQUIRED
- Cornell Capital, 2017, $2 billion (combined)
- IMPACTS
- 1 documented
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Editorial Record
maintained by DeathbyPE. Every claim links to a public source.Timeline
Instant Brands (Instant Pot / Pyrex) founded
Acquired by Cornell Capital for $2 billion (combined)
Instant Pot maker filed bankruptcy after Cornell Capital loaded debt onto merged company
HighClosure / BankruptcyCornell Capital merged the wildly popular Instant Pot with Corelle Brands (Pyrex, CorningWare) and saddled the combined Instant Brands with ~$500M in debt. Despite Instant Pot being one of the best-selling kitchen products in Amazon history, the PE debt burden was unsustainable. Filed Chapter 11 in June 2023. The brand went from cultural phenomenon to bankruptcy in just a few years under PE ownership.
Instant Pot Maker Instant Brands Files for Bankruptcy
Before / After
Company value
reported 2023
before Cultural phenomenon, best-seller
after Bankrupt, ~$500M debt
-100%
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