A Traeger grill is not a small purchase. Many models cost $800 to over $1,500, so it makes sense that buyers want to know whether the company will still be around to honor warranties, stock replacement parts, and provide support. Investors are asking similar questions about the stock.
This article walks through what the financial data actually shows, what Traeger’s restructuring program involves, and how to tell the difference between a company in serious trouble and one that is quietly winding down.
Traeger Has Not Filed for Bankruptcy or Announced a Closure
The direct answer first: as of the most recent available data, Traeger has not filed for bankruptcy and has not announced it is closing. The company continues to trade on the New York Stock Exchange under the ticker COOK and maintains an active investor relations page.
Traeger grills are still sold at major national retailers, and the company continues to run marketing campaigns and launch products. None of that is consistent with a business that is shutting down.
That said, it is important to understand the difference between a few terms that often get mixed together:
- Restructuring means cutting costs, reorganizing operations, and changing strategy — the company continues to operate.
- Chapter 11 bankruptcy is a legal process that allows a company to restructure its debts under court supervision while staying in business.
- Chapter 7 bankruptcy is liquidation — the company stops operating and sells its assets to pay creditors.
- Delisting means a stock is removed from a stock exchange, which is different from the company ceasing operations. A delisted company can still trade on over-the-counter markets or continue as a private business.
Traeger is currently in restructuring territory. That is a real problem worth paying attention to, but it is not the same as going out of business.
Four Years of Declining Revenue and Persistent Net Losses
Here is where the picture gets less comfortable. Traeger’s financial performance since going public has been consistently weak, and the trend has not reversed.
Revenue peaked at $655.9 million in 2022 and has fallen every year since. By 2025, revenue had declined to $559.5 million — roughly a 15% drop from the peak. The most recent year alone saw a 7.4% decline.
The losses are harder to ignore. Traeger has not reported a profitable year as a public company. Net losses by year break down as follows:
- 2022: $382.1 million loss
- 2023: $84.4 million loss
- 2024: $34.0 million loss
- 2025: $115.2 million loss
The 2025 loss looks significantly worse than 2024, but context matters here. That figure includes a $74.7 million goodwill impairment, which is a non-cash accounting adjustment, not a cash outflow.
Goodwill is created when a company acquires another business and pays more than the book value of its assets. That premium — reflecting brand reputation, customer relationships, and growth expectations — gets recorded as goodwill on the balance sheet. When those expectations are revised downward, the company must write off some or all of that amount. It signals that management believes a past acquisition was overvalued, but it does not mean cash has physically left the business.
Even setting aside the impairment, Traeger still carries approximately $403 million in long-term debt, which has remained largely unchanged. Gross margins have also slipped, from 42.3% in 2024 to 39.2% in 2025, partly because of tariffs on imported goods and inventory write-offs from discontinued product lines.
The combination of declining revenue, persistent losses, and heavy debt is what’s driving the concern — and it is a legitimate concern.
What Project Gravity Is and What It Changes
Traeger’s response to its financial pressure is a structured cost-reduction program called Project Gravity, rolled out in two phases.
Phase 1 targeted approximately $30 million in savings through layoffs and operational consolidation. This built on earlier cuts from 2022, when the company laid off roughly 14% of its global workforce and shut down Traeger Provisions, a meal-kit side business that had expanded the brand beyond grills and accessories.
Phase 2 targets an additional $20 million in savings. The two main moves here are ending Traeger’s Costco roadshow events — the live, in-store cooking demonstrations — and stopping direct-to-consumer sales through Traeger’s own website.
It is worth being precise about the Costco piece. Traeger grills are still available at Costco. What is ending is the roadshow format, where Traeger staff would set up live cooking demonstrations in the warehouse stores. Those events were expensive to run and are being cut as part of the broader cost reduction effort.
As for the website change: shoppers who visit Traeger.com are now directed to retail partners such as Amazon and Home Depot to complete their purchase, rather than buying directly from Traeger. The brand’s product pages and content remain active — the company just no longer processes the transactions itself.
There is also a legal dimension. Dozens of workers have joined a lawsuit related to Traeger’s operational pivot. The details of the allegations have not been resolved, but the lawsuit represents an added reputational and financial risk on top of the business challenges already in play.
Why Traeger Walked Away From Direct-to-Consumer Sales
On the surface, a brand stopping sales on its own website sounds alarming. But there is a clear strategic rationale behind the decision.
Running a direct-to-consumer channel is expensive. It requires investment in logistics infrastructure, digital advertising, customer service teams, returns processing, and ongoing website operations. For a company that is already losing money, maintaining that overhead is difficult to justify — especially when retail partners already have the distribution networks and customer traffic in place.
Think of it like a clothing brand that decides to stop maintaining its own online store and instead sells exclusively through department stores and Amazon. The brand gives up some margin on each sale, but it eliminates significant fixed costs and leans on partners who already have millions of buyers coming to them daily.
Traeger’s retail partners — Costco, Home Depot, Lowe’s, Ace Hardware, and Amazon — have massive reach. Concentrating on those channels rather than competing for traffic on its own site is a pragmatic cost-cutting move, not evidence that the brand is collapsing.
What This Means for Customers and Investors
For Consumers
If you own a Traeger or are considering buying one, the relevant questions are about warranty coverage, parts availability, and long-term support. Based on current information, Traeger products remain widely available through major retailers, and the company continues to operate its support infrastructure.
That could change if the company’s finances deteriorate further. For now, it is reasonable to watch for warning signs like product lines being discontinued without replacement, retail partners quietly reducing shelf space, or significant changes to warranty terms.
There is no current evidence of any of those things happening. The company is cutting costs, not liquidating inventory.
For Investors
Some shareholders have raised concerns about potential NYSE delisting due to poor stock performance. That is a real risk for a stock that has struggled since its public debut. But delisting is not the same as going out of business. If Traeger were delisted, it could potentially continue operating as a private company or move to over-the-counter trading. Shareholders would face a significant loss of liquidity, but the grills would not disappear from store shelves overnight.
Anyone holding or considering Traeger stock should monitor SEC filings and quarterly earnings releases closely, paying particular attention to cash flow trends, debt refinancing activity, and whether the savings from Project Gravity are actually materializing.
For deeper guidance on reading business financials and evaluating companies under pressure, ScaleToBusiness covers business strategy and financial analysis in a format that is practical for both investors and entrepreneurs.
The Competitive Context
Traeger did not invent its problems in isolation. The pellet grill market has become significantly more competitive since Traeger popularized the category. Brands like Pit Boss and Louisiana Grills (both owned by Dansons) offer lower-priced alternatives, and even the original Traeger founder, Joe Traeger, became associated with competing products after selling the company in 2006 — a situation that led to legal disputes.
Pricing pressure from competitors, combined with a broader slowdown in outdoor cooking demand after the pandemic-era surge, has squeezed the entire segment. Traeger is not uniquely struggling because of internal mismanagement alone — though the company’s debt levels and acquisition history have made its position more precarious than some rivals.
The Bottom Line
Traeger is not going out of business in any immediate or confirmed sense. There is no bankruptcy filing, no closure announcement, and no liquidation in progress. The company is available on shelves, active on social media, and still reporting to the SEC as a public company.
What is real is that Traeger has posted losses every year as a public company, revenue has declined for four consecutive years, it carries over $400 million in long-term debt, and it is now in the middle of a significant restructuring program that has included layoffs, a DTC exit, and the end of its live in-store demonstrations.
The honest framing is this: Traeger is a financially stressed company actively trying to stabilize itself. Whether Project Gravity succeeds in narrowing its losses and eventually returning
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