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Instant Brands — maker of the Instant Pot — files for bankruptcy (www.cbsnews.com)

submitted 1 year ago by [email protected] to c/[email protected]

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Since COVID, company has faced "additional global macroeconomic and geopolitical challenges," CEO Ben Gadbois said.

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[–] [email protected] 3 points 1 year ago (1 children)

How tf could they go bankrupt, nearly every person I know has an instapot. It's a household name at this point, a hyper successful product.

[–] [email protected] 2 points 1 year ago (2 children)

If every household has one, who is buying new ones?

[–] [email protected] 3 points 1 year ago (1 children)

Me, I wanna buy a new one! Was planning on getting my friends one for a gift soon too. Those things are super handy.

[–] [email protected] 1 points 1 year ago (1 children)

Sometimes I wish I had a second one. I would definitely use two at the same time if I had a second.

[–] [email protected] 1 points 1 year ago

I have two and definitely use them both simultaneously from time to time. It’s a great rice cooker too.

[–] hactar42 1 points 1 year ago

Similar thing happened to Crocs a few years back. They didn't wear out like regular shoes so repurchases where rare. They ended up expanding their product lines to make up for it.