Instant Brands, the maker of our beloved Instant Pot and Pyrex cookware, has landed in financial hot water and filed for bankruptcy. This comes as a bit of a shocker for a company that once had us all rushing to buy its handy Instant Pot.

What went wrong, you ask? It’s the age-old story: too much debt, not enough cash flow. Even with the Instant Pot flying off shelves and becoming a household name, it seems the kitchenware giant bit off more than it could chew financially.

Even though the company is cooking up a plan to get back on its feet, experts are predicting a steep uphill battle. Will Instant Brands be able to turn things around, or is this the end of the line for our beloved Instant Pot? Only time will tell.