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Instant Brands Filing Bankruptcy
The maker of Pyrex Glassware and the famous Instant Pot has filed for bankruptcy. Ben Gadbois said in a statement that the tightening of credit terms and higher interest rates put a lot of financial pressure on the company, and they could no longer keep up. This bankruptcy filing comes only three months after the Federal Trade Commission said that Instant Brands had to stop falsely claiming that all Pyrex glassware was made in the US when many cups are manufactured in China.
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