If you’ve walked through a Target or scrolled through Amazon lately, you might have noticed something weird. The shelves are still full of those squat, silver pressure cookers, but the headlines tell a different story. You probably saw the instant pot bankruptcy news flash across your feed and thought, "Wait, is my favorite kitchen gadget going extinct?"
It’s a valid question. Honestly, the drama behind the scenes of Instant Brands—the parent company—reads more like a corporate thriller than a recipe blog. We’re talking about a company that went from being the absolute darling of the internet to filing for Chapter 11 in what felt like the blink of an eye.
But here’s the thing: the Instant Pot isn't dead. It’s just living in a different house now.
The Day the Pressure Boiled Over
Back in June 2023, Instant Brands officially filed for bankruptcy protection. At the time, they were carrying more than $500 million in debt. For a company that once claimed its products were in 90% of American homes, that number felt impossible. How do you go from being a "must-have" to "can't pay the bills"?
Basically, the company got hit by a perfect storm. During the pandemic, everyone was home. Everyone was making "healing" soups and 20-minute pot roasts. Sales skyrocketed. But once the world opened back up, people stopped buying new ones.
Think about it. You probably still have the same Duo 6-quart you bought in 2018. It still works, right? That’s the "quality trap." If you make a product that lasts forever, you eventually run out of new people to sell it to.
Why the Bankruptcy Happened (The Non-Boring Version)
It wasn't just that we all already had one. There were some serious behind-the-scenes issues that most people totally missed:
- The "Leveraged Buyout" Problem: In 2019, a private equity firm called Cornell Capital bought the company. They didn't just use cash; they loaded the company with debt to pay for the acquisition.
- The Dividend Scandal: There’s actually a lawsuit happening right now. A bankruptcy trustee is suing Cornell Capital, alleging they took a $345 million dividend out of the company while it was struggling. Basically, the claim is that the owners took a huge payday while the ship was sinking.
- Interest Rates: When the Fed started hiking rates to fight inflation, that $500 million debt became way more expensive to maintain.
- The Air Fryer War: While Instant Pot was trying to figure out its next move, Ninja and other brands were eating their lunch in the air fryer market.
Is Instant Pot Still in Business?
Yes. Absolutely.
If you’re worried about whether you can still get replacement sealing rings or if your warranty is worth the paper it’s printed on, take a deep breath. By early 2024, the company successfully restructured.
Here is the "New Reality" for the brand:
The company basically split in two. The "Housewares" side—think Pyrex, Corelle, and CorningWare—emerged from bankruptcy as a separate entity now known as Corelle Brands. Meanwhile, the appliance side (the actual Instant Pots and air fryers) was sold to a private equity firm called Centre Lane Partners.
In April 2024, the appliance wing officially rebranded as Instant Pot Brands. They even hired a whole new leadership team, including a new CEO, Chris Robins, to try and steer the ship back toward innovation instead of just survival.
What Most People Get Wrong About the Restructuring
People hear "bankruptcy" and think "going out of business sale." That’s Chapter 7. This was Chapter 11.
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Chapter 11 is more like a corporate "reset" button. It allowed them to shed some of that massive debt and separate the profitable parts of the business from the parts that were weighing them down.
Nowadays, you’ll see they are pushing new lines like the RIO series and the InstantHeat toaster ovens. They are desperately trying to move away from being "just the pressure cooker company." They want to be the "fast cooking" company.
Does Quality Suffer After Bankruptcy?
This is where the nuance comes in. If you head over to Reddit’s r/InstantPot, you’ll see plenty of "old guard" users swearing that the newer models feel lighter or more "plastic-y" than the tanks they bought ten years ago.
Is that because of the bankruptcy? Sorta. When a private equity firm takes over, they are looking for efficiency. Sometimes that means finding ways to manufacture things cheaper. But honestly, the core technology of a pressure cooker hasn't changed much. A heating element is a heating element.
The Future: What Should You Actually Do?
If you are looking at the instant pot bankruptcy news and wondering if it's safe to buy a new one in 2026, here is the expert take:
- Don't panic about support: The brand is stable now. They have a new owner with deep pockets who wants to make their investment back. They aren't going to let the brand die.
- Check the model numbers: If you want the most "solid" feel, look for the Pro or Max versions. The entry-level "Duo" models are where they’ve trimmed the most fat to keep the price at $79 or $99.
- Keep your receipts: Restructuring sometimes means changes in how customer service is handled. Always register your product on their site immediately.
- Watch for the "Old Stock": You might still find boxes with the old "Instant Brands" logo on them. These are functionally the same as the new "Instant Pot Brands" units, but they might be sitting in a warehouse for a while. Check the gaskets for any signs of drying out.
The reality is that the Instant Pot became a victim of its own success. It was a viral hit that everyone bought at once, leaving no one left to sell to. The bankruptcy wasn't a failure of the product; it was a failure of the financial structure behind it.
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Actionable Next Steps:
- Audit your gaskets: If you’ve had your pot for more than two years, the bankruptcy doesn't matter as much as your maintenance. Buy a two-pack of official silicone rings now while supply chains are steady.
- Explore the RIO Line: If you’re looking to upgrade, don't just buy another Duo. Look at the RIO (Re-Imagined One-pot) models which represent the new company's first real attempt at "post-bankruptcy" innovation.
- Check for Recalls: Regardless of who owns the company, safety is the priority. Periodically check the official Instant Pot website for any safety notices regarding older "Instant Brands" era products.