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Instant Pot is arranged for a photograph in Arlington, Virginia, U.S., on Tuesday, March 5, 2019. An Instant Brands Inc. Instant Pot is arranged for a photograph in Arlington, Virginia, U.S., on Tuesday, March 5, 2019. Photographer: Andrew Harrer/Bloomberg By Amelia Pollard +Follow June 12, 2023, 8:41 PM UTC Listen to this article :53 Share this article Copied Gift this article Subscriber Benefit Bloomberg subscribers can gift up to 5 articles a month for anyone to read, even non-subscribers! Learn more Subscribe Sign In Follow the authors @ameliajpollard + Get alerts forAmelia Pollard Instant Brands, maker of the Instant Pot pressure cooker and Pyrex glassware, filed for bankruptcy on Monday after high interest rates and waning access to credit hit its cash position and made its debts unsustainable. The company listed estimated assets and liabilities of as much as $1 billion in a bankruptcy petition filed in Texas. The Chapter 11 filing allows Instant Brands to keep operating while it seeks approval of a plan to repay creditors. LIVE ON BLOOMBERG Watch Live TVListen to Live Radio Most Read * Markets Oil Traders Are Daring to Defy Market Kingpin Saudi Arabia * Markets Morgan Stanley, Goldman at Odds on S&P 500's Bull Market Rally * Markets Nasdaq 100 Climbs About 2% in Run-Up to CPI Report: Markets Wrap * Technology Elizabeth Holmes Objects to $250-a-Month Victim Payments After Prison * Technology Apple Shares Close at Record in Latest Sign of Big Tech's Dominance Terms of Service Trademarks Privacy Policy (c)2023 Bloomberg L.P. All Rights Reserved Careers Made in NYC Advertise Ad Choices Help PxPixel