Print

Please login or register.
1 Hour 1 Day 1 Week 1 Month Forever
Login with username, password and session length

[02ebz06]

NEW YORK -- Instant Brands, the maker of Instant Pot, Corelle, and Pyrex, among other products, has filed for bankruptcy.

The Chapter 11 bankruptcy filing came on Monday. Chapter 11 bankruptcy allows for a reorganization of the company, rather than its liquidation in a Chapter 7 filing, CNN reported,

The company blamed tighter credit and higher interest rates as contributing factors in the filing. But the company added that it has seen rapid growth since the start of the pandemic, entering several new product categories and expanding its global footprint. It listed more than $500 million in both assets and liabilities, and said it has received $132.5 million in additional financing from its existing lenders as part of its bankruptcy process.

[Bar-B-Lew]

I think we will see a lot of bankruptcy filings between now and end of the year.  If company's didn't hedge interest rate risk, they may not have the cash flows to be making debt payments at MUCH higher rates.

[02ebz06]

Found another - Bed Bath and Beyond has filed for Bankruptcy
Had 32,000 employees last year 14,000 this year.
Will be having going out of business sale.

Looking like we may be heading toward a recession.

[Bar-B-Lew]

Found another - Bed Bath and Beyond has filed for Bankruptcy
Had 32,000 employees last year 14,000 this year.
Will be having going out of business sale.

Looking like we may be heading toward a recession.

That was several months ago.  I think most stores have already been through their liquidation sales.