Tervis, the Venice, Florida drinkware maker founded in 1946, filed for Chapter 11 bankruptcy to reorganize, the Sarasota Herald-Tribune reported on September 10, 2024.
The filing
- The company cited a “disruption of the market” and weaker retail spending as rivals Yeti and Stanley grew.
- Its main creditor, United Community Bank, is owed almost $5 million. Assets and liabilities were each listed at $10 million to $50 million.
- Layoffs are expected, but the company plans to keep operating.
What is still made in the USA
Tervis splits its line in two. Its classic insulated plastic tumblers are made in the USA. Its stainless steel products are made in China and labeled “made in China, supplied from Venice, Florida,” with some printed in Florida. The family business once grew its Florida factory to about 700 workers and up to 90,000 cups a day.
“This difficult business decision was one that we made in order to preserve the company’s legacy and better the company for the future.”
Rogan Donelly, grandson of the Tervis founder
FAQ
Is Tervis closing?
No. Chapter 11 is a reorganization, and Tervis plans to keep operating.
Are Tervis tumblers made in the USA?
The classic plastic insulated tumblers are. The stainless steel line is made in China.
Where is Tervis based?
Venice, Florida.
Source & credit
Source: Sarasota Herald-Tribune, September 10, 2024: “Is Tervis still made in the USA? The Florida insulated cup maker files for bankruptcy”, by Samantha Neely and Heather Bushman.