Drinkware firm Tervis exits Chapter 11

NORTH VENICE, Fla.--(BUSINESS WIRE)--Tervis, the nationally loved and family-owned drinkware company founded in 1946, announced it has exited Chapter 11 bankruptcy with all litigation dismissed and debt resolved. The reorganization took a little more than five months; the firm 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 at 9:30 a.m.

“The business decision to reorganize was to better position and strengthen this brand’s legacy for a long and successful future,” said Hosana Fieber, chief executive officer of Tervis. “Now we plan to invest in this family-owned brand and its products, that are both made to last.”

During the hearing, company 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.

“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.”

That investment includes its business strategy to return to its legacy and focus on product for home occasions versus on-the-go occasions. The sub-brand, TervisHome, with its new product category launch of melamine, will accompany the Classic Drinkware Portfolio, which ranks within the Top 10 of plastic and acrylic drinkware.

The Tervis brand will focus on stabilizing the business and promoting its first entrance into the dinnerware category with the line of melamine products that complement its tumblers, with four design sets that include dinner plates, salad plates and bowls.

“Tervis has unique, long-standing and close relationships with vendors due to our culture and our organization remains deeply committed to leaning on our core values and strong family legacy to uphold our brand for our customers and stakeholders far into the future,” said Fieber.

About Tervis

Tervis is a third-generation family-owned and operated business founded in 1946. Its drinkware is renowned for durable construction, timeless decorations & designs, and premium insulation qualities that have stood the test of time. The Tervis Classic Drinkware Portfolio offers an industry leading lifetime guarantee. Tervis headquarters are located at 201 Triple Diamond Blvd., North Venice, Florida 34275. For more information, visit Tervis.com.