![]() DISCOVER AMAZING RECIPES: Download our free Instant Pot app, so you can create quick new favorites and prepare delicious meals, available iOS and Android.GREAT FOR GROWING FAMILIES: Cook for up to 6 people – perfect for growing families, or meal prepping and batch cooking for singles.PROVEN SAFETY FEATURES: Includes over 10 safety features, plus overheat protection and safe-locking lid.QUICK AND EASY CLEAN UP: Finger-print resistant, stainless-steel sides and dishwasher-safe lid, inner pot, and accessories.COOK FAST OR SLOW: Pressure cook delicious one-pot meals up to 70% faster than traditional cooking methods or slow cook your favorite traditional recipes – just like grandma used to make.VERSATILE INNER COOKING POT: Food-grade stainless-steel cooking pot with a tri-ply bottom offers more even cooking and an anti-spin design that secures the pot for perfect sautéing.Includes free app with over 1900 recipes! QUICK ONE-TOUCH COOKING: 11 customizable Smart Programs for air frying, pressure cooking ribs, soups, beans, rice, poultry, yogurt, desserts and more.EVENCRISP TECHNOLOGY: The included air fryer lid delivers all the crunch and tenderness of deep-frying with 95% less oil.THE INSTANT POT THAT AIR FRIES: From the makers of the best-selling Duo series comes a pressure cooker and air fryer combo, with 2 convenient removable lids.11-IN-1 FUNCTIONALITY: Air fry, roast, bake, dehydrate, pressure cook, slow cook, rice cooker, yogurt maker, steamer, sauté pan, yogurt maker, sterilizer and food warmer.Use the air fryer lid to fry, roast, bake and more, then switch to the pressure cooker lid and you've got a whole new set of cooking techniques available - all fast, easy and at the touch of a button. On it, the company writes: "As we move through this process, we remain focused on serving and connecting with our consumers around the world, and we are grateful for their trust in us and our products.Offering the best of both worlds, the Instant Pot Duo Crisp is both a Pressure Cooker and Air Fryer in one small appliance. How exactly Instant Brands will retool is unclear, but the company has launched a new website to update consumers on their progress called, fittingly,. "While we continue our efforts to strengthen our financial position, this court-approved financing gives us the ability to continue to provide all of our great products to consumers around the world during this process." "We want to thank our lenders and all advisors for working with us and supporting us with new financing," said Ben Gadbois, President and CEO of Instant Brands. ![]() Providing housewares and appliance products under its brands.Paying vendors, suppliers and distributors in full under normal terms for goods and services provided on or after the filing date and.Paying employee wages and benefits without interruption.According to a press release from Instant Brands, interim approvals granted by the court - including the go-ahead to receive the aforementioned $132.5 million in financing - allow the company to continue: This was a high-risk strategy - one that failed, but it's not necessarily all bad for everyone in Instant Brand's orbit. "In reality, Instant Pot's owners borrowed hundreds of millions of dollars and spent a significant chunk of that money on R&D, developing new products and employing lots of people in the process." "There is a world without leverage where the company making Instant Pots would be very profitable when many were sold, less profitable when fewer were sold, and would never risk bankruptcy," wrote Felix Salmon for Axios. It's important to remember that, at the end of the day for corporations, bankruptcy is often a business decision. That dip marked the seventh consecutive quarter of declining sales for the company." "Sales in the category dropped by half by 2022, and in the first quarter of 2023, Instant Brands' sales dropped 22 percent compared to last year. "But those numbers weren't tenable," they reported. The segment hit a record $758 million in 2020. Die-hard Instant Pot users estimate that, even when used a few times a week, they can survive for up to six or seven years.Īs Bon Appetit reported, "electronic multicooker devices," including Instant Pot, saw a huge spike in popularity during the pandemic. The rubber ring that helps the appliance seal properly is the most likely to go out first after a year or two, but those are easily replaceable, as are the inner pots used within the appliance. Once you buy an Instant Pot, there is really no compelling reason to replace it - at least for a while. As Amanda Mull succinctly wrote for the Atlantic, "the Instant Pot failed because it was a good product." Ironically, one of the contributing factors to Instant Pot's financial troubles is the fact that, for what it is, it is a genuinely useful, well-designed machine.
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