From the Austin, Texas Business Journal:
Ronco, the infomercial powerhouse behind Veg-O-Matic, files for Chapter 11 bankruptcy
Ronco Holdings Inc., which popularized the infomercial tagline "But wait, there’s more" and sold household gadgets such as the Pocket Fisherman and Veg-O-Matic, has filed for Chapter 11 bankruptcy protection.
Rondo Brands, which was incorporated February 2017 in Austin to become the holding company of Ronco Holdings, announced plans more than a year ago to raise $30 million through a "mini-IPO" of 5 million shares at $6 per share.
That funding effort failed, according to the New York Post, which first reported on the late April bankruptcy filing last week.
Product inventor Ron Popeil founded Ronco in 1964. Over the decades, it rolled out devices such as the Chiptastic Microwave Potato Chip Maker and Turbo Food Dehydrator.
End of an era - if you watched television 30 years ago, their advertising was in constant rotation.
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