Ronco Goes Bankrupt

By NewsDude ,  Newser Staff
Posted Jun 16, 2007 4:49 PM CDT
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(Newser) – But wait, there’s more, as pitchman Ron Popeil liked to say. Ronco, maker of Veg-o-matic, Chop-o-matic, Popeil’s Pocket Fisherman, and an endless array of consumer items sold through infomercials, has filed for Chapter 11 bankruptcy protection. While founder Ron Popeil had sold the company in 2005, he remains a spokesperson.

It was apparently the price paid for the purchase—some $55 million, not all of which has yet been paid—that caused some of Ronco’s current problems. While Ron Popeil may be out the last installment of his purchase price, he has an apt way to make up for it: a new home turkey fryer.