Insulated beverageware company Tervis announced it has exited Chapter 11 bankruptcy, with litigation dismissed, debt resolved and a plan to extend the brand into melamine dinnerware.
Tervis entered Chapter 11 on September 6, 2024. The confirmation hearing to exit Chapter 11 took place at the Tampa Federal Courthouse on Tuesday, February 11.
During the hearing, the company reported that Tervis executives unveiled a “Made to Last’’ Tervis tumbler to commemorate the occasion. It was noted during the hearing that the firm settled a large lingering lawsuit, made deals with all creditors and is moving forward with no pending litigation and a low debt balance sheet.
“The business decision to reorganize was to better position and strengthen this brand’s legacy for a long and successful future,” said Tervis CEO Hosana Fieber. “Now we plan to invest in this family-owned brand and its products, that are both made to last.”
Tervis announced plans to adapt its strategy to focus on home occasions versus on-the-go occasions. The company has developed a sub-brand, TervisHome, which is launching Tervis’ first melamine dinnerware offering to accompany its longstanding portfolio of tumblers and other drinkware. The brand’s initial melamine dinnerware program includes four designs— Azure (pictured above), Sandstone, MediterraBlue and Enchanted Garden — including dinner plates, salad plates and bowls.
“We’re thrilled with the future vision of the company and the leadership and strategies in place to bolster the brand and grow,” said Rogan Donelly, chairman of the board for Tervis. “The board has full confidence in our team’s ability to build back better and stronger than ever before and we will do that by investing in innovation and our core strengths.”
