Instant Pot Maker Files for Bankruptcy Despite Product Success

The Instant Pot was a successful kitchen gadget that promised to turn ingredients into family meals while saving time.
The company that made the Instant Pot, Instant Brands, filed for bankruptcy due to supply-chain chaos and limited success expanding the brand into other categories of household gadgetry.
Instant Brands, the maker of the Instant Pot and other household brands, has filed for Chapter 11 bankruptcy to stay afloat and restructure rather than liquidate its business.
Instant Brands has struggled to attract new fans for its beloved Instant Pot and other products after sales surged during the pandemic.
Companies that make durable products need to give consumers a reason to replace their products.