Instant Pot multicookers for sale at Bloomingdale's Inc. flagship department store in New York, U.S., on Wednesday, Oct. 21, 2020. Instant Brands, the maker of Pyrex glassware and Instant Pot pressure cookers, has filed for bankruptcy, saying high-interest rates, tighter credit conditions and falling consumer demand made its debt load unsustainable. Instant Brands, whose products also include Corningware, said it plans to keep operating while it restructures, and toward that end has lined up $132.5 million in financing. The Downers Grove, Illinois-based company has more than 1,800 employees, over half of whom are unionized. Entities located outside the United States and Canada are not seeking court protection.

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Organizations: Bloomingdale's Inc, Instant Brands, Cornell Capital LLC Locations: New York, U.S, Houston, Downers Grove , Illinois, United States, Canada