It'll continue to operate... I'm curious what fraction of the creditors are backed by Cornell Capital (PE owner), and if they just are using this to wipe out retirement plans/other creditors/dump a bunch of debt, or if they actually messed up.
tbh I should probably get with the times and start doing it myself, at some point the music will stop and there won't be any companies left to rob blind...
https://www.simonandschuster.com/books/The-Man-Who-Broke-Cap...
Now I guess that was a PE-driven move to push replacements instead of maintenance.
The parts they do still sell got de-emphasized on their website and they stopped selling some. See the comments here: https://www.instanthome.com/product/instant-pot/parts/anti-b... "Hello Olga. The Duo Evo Plus, steam release valves, are not sold individually at this time. If you have any concerns about yours, please contact our Customer Care team for assistance" In one of them they even provide a link to a supposed "replacement parts" section that doesn't work at all today: https://www.instanthome.com/marketing/9001/instant-replaceme...
Of course, there are sometimes things you don't want to really mess with of questionable quality.
I'm assuming any pressure cooker has a rubber blowoff plug so there's not too much risk of the normal use valve jamming or something. And an electronic pressure cooker might sense over-heat/overpressurization.
But if the steam release valve is electronically controlled too... you're now in BMW land
Yet another storied business that had perhaps become stagnant, but certainly didn’t need to be sacrificed to vampire private equity. Where does it stop?
https://www.prnewswire.com/news-releases/instant-brands-to-m...
> In the field of finance, the term private equity (PE) refers to investment funds, usually limited partnerships, which invest in and restructure private companies.
Not to be confused with with "Price to Earnings Ratio", although that's usually rendered as "PE ratio".