Fagor America will be shutting down operations over the next few months after its parent company in Spain announced it would close, Fagor America’s CEO Patricio Barriga confirmed to hip pressure cooking.
In a letter from Fagor to retailers, HomeWorld Business reports, they wrote, “Fagor America will be affected by this cessation and we anticipate the company will be closing in the next couple of months.”
The letter from Fagor continued, “We want to assure you and your customers that we will [be]supporting you during this period to make sure service and coverage of warranties continue uninterrupted. We do have product in stock and in transit that we intend to sell in an orderly fashion to preserve the integrity of the Fagor brand.”
Fagor America’s parent company in Barcelona, Fagor Electrodomésticos, was acquired by CNA Group which filed for bankruptcy in November of 2013. Despite the changing of the reins and crisis in Spain, Fagor America continued to independently develop products such as its Lux multicooker which has won awards from Cook’s Illustrated, Good Housekeeping and the 2017 Good Design Award from Chicago’s Athenaeum Museum of Architecture and Design.
The dissolution of the Fagor brand in America leaves a team of talented individuals – whom I have personally met – with an established retail distribution chain and proven track record of locally conceived, developed and marketed products which found success in the U.S. marketplace.
Could a new brand be in the works?
Fagor America still plans to attend the International Home + Housewares Show in Chicago, next week.