2023-07-10 19:17:12
A few days ago, we thought that this specialist brand of glass kitchen utensils was going to disappear. And yet, it is false. Details.
A few days ago, a rumor spread that a brand more than a century old, which we all know glass dishes, which are also oven-safe, that in the freezer without ever altering, was going bankrupt. Because it’s summer, the sun is shining and the birds are singing, we had to be reassuring…
Designed to withstand all temperatures, the products of this brand were a real success from the launch in 1915. It must be said that it was a small revolution for the time: by adding boron oxide to the composition of glass, the German scientist Otto Schott discovers that the material becomes very resistant to thermal shocks.
Before this innovation, few dishes came out of the oven unscathed! The dishes, molds and other utensils of this brand have gone through the ages and are now part of the essentials of our kitchens. Can’t you guess? However, there is a good chance that you have inherited a dish of this brand from your mother, because they have a longevity of nearly 40 years! This is Pyrex, a company now owned by the American group Instant Brands.
Instant Brand, the parent company of Pyrex, also owner of the Instant Pot brand, declared on Monday June 12, 2023 that it had initiated bankruptcy proceedings. Indeed, the group is experiencing an unprecedented debt situation and is currently facing major financial difficulties. A situation partly due to the “tightening credit conditions and rising interest rates“, according to Ben Gadbois, the group’s chairman and managing director. could lead to the liquidation of its brands, including Pyrex.
In a statement sent to the press on July 7, 2023, clarifications were made: “La Maison Française du Verre, which operates the PYREX® brand license for the Europe, Middle East and Africa (“EMEA”) zone, would like to point out that it is in no way concerned by the Chapter 11 procedure (law of American bankruptcies) from which INSTANT BRANDS benefits, which for its part operates the PYREX® brand license for the Americas and Asia; the two companies operating two separate licenses and producing neither in the same place nor for the same markets.” There is therefore no need to worry about the future of the Pyrex brand in France and in the territories managed by The French House of Glass. By the way, did you know? The factory is located in Châteauroux (Indre).
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