It has been a challenging few months for Tervis, a manufacturing giant in Sarasota County that laid off 60 employees in September as part of bankruptcy proceedings. But the drinkware company last week exited Chapter 11 with all litigation dismissed and debt resolved. Tervis CEO Hosana Fieber answered SRQ’s question about the company’s future following the development.

Tervis last week teased a "plan to invest." Will the exit from Chapter 11 allow an expansion of its current workforce? Will any employees return?

HF: Right now, the plan is to stabilize the business and invest by focusing on our strengths, which include a focus on our legacy products and the introduction of our new melamine line.  We intend to grow conservatively and with that growth, we can invest in additional resources.

How much of the company's manufacturing do you anticipate happening in Sarasota County?

HF: Our roots and our family values are part of the brand’s legacy.  For now, we intend to continue partnering with TMF, our outsourced manufacturing partner here in Florida.  Our corporate office will move to Osprey.

Were any licensing deals paused during bankruptcy proceedings that can be reopened?

HF: We value our licensing partners immensely and we stayed close to them throughout this process.  They have been great partners for many years and demonstrated that continuously throughout this process.

Tervis in recent years expanded beyond tumblers to sell stainless steel, breakfast-ware, etc. What products can we expect from Tervis in the immediate future?

HF: We are leaning into our legacy products that have stood the test of time. That being products for the home, rather than on-the-go. To further invest in at-home occasions we launched melamine earlier this year, and currently offer four design sets of dinner plates, salad plates and bowls to accompany our Classic drinkware. We are very excited about these durable and beautiful products for outdoor living, and we have received extremely positive feedback from our customers. Our founders created Tervis products for outdoor living in Florida – on the patio, by the pool or on the boat–and we intend to focus our efforts on the products that are suitable for those occasions.

What message are you sending employees and investors about Tervis' financial strength in the wake of the Chapter 11 proceedings? 

HF: The decision to enter Chapter 11 was difficult but was necessary to better position and strengthen the brand for a long and successful future.  Our focus in the immediate term is to stabilize by narrowing our focus on our legacy products and our new melamine offering.  With all litigation dismissed and a low debt balance sheet, we are positioned to build back and bolster the brand for growth.