Instant Brands Draws Interest From Centre Lane, Citadel (1)

Instant Brands, the Illinois-based bankrupt maker of the Instant Pot pressure cooker and Pyrex glassware, has drawn interest for different parts of its business from parties including Centre Lane Partners and hedge fund Citadel, according to people familiar with the matter.

Citadel has offered to purchase loan holdings from existing lenders at around 7 cents on the dollar, said the people who asked not to be named because the details of the matter are private. It’s asking those who don’t want to sell to team up in a potential bid for certain assets, such as the housewares business, ...