For decades, millions of Italians at home and abroad have started their morning ritual waiting for the telltale whistling and bubbling sound that signalled the moka pot was brimming with a strong brew of coffee.

But the original moka – a fixture in Italian homes and an icon of Italian design since it was introduced by Alfonso Bialetti in 1933 – now risks extinction as its maker struggles against bankruptcy amid a difficult Italian economy and fierce competition from high-tech coffee pod machines.

On Friday, the Bialetti group announced a raft of measures it is taking to address 68 million euros in debt and “doubts over its continuity.”

When Alfonso Bialetti introduced his patented design for the eight-sided aluminum stovetop coffee machine that moves boiling water, pressurized by steam, up through ground coffee, the Italian economy was in a terrible state. It was 1933 - banks were failing, unemployment was high and Italians were cutting luxuries like trips to cafes – hence the demand for a pretty, in-house coffee machine.

More than 105 million moka pots have been produced since then, with the original 1933 Bialetti design remaining a favourite among aficionados keen on a frugal, sustainable brewing method that doesn’t scrimp on caffeine or quality.