Tupperware Maker Expected To Declare Bankruptcy

Bloomberg News reports:

Tupperware Brands is preparing to file for bankruptcy as soon as this week, according to people with knowledge of the plans, following a years-long effort to revive the business amid waning demand.

The home-goods brand, which has for much of a century defined food storage, is planning to enter court protection after it breached the terms of its debt and enlisted legal and financial advisers, said the people, who requested anonymity to discuss confidential information.

Tupperware in 1946 introduced its plastic products to the public after founder Earl Tupper invented their flexible airtight seal. The brand exploded into American homes largely by way of sales parties hosted by suburban women.

Read the full article. Tupperware saw a resurgence in sales during the lockdown years, but by last year they were warning that the end might be near, in part due to less expensive copycats flooding in from China.

Tupperware Brands is preparing to file for bankruptcy as soon as this week https://t.co/zK9YW8zZSl

— Bloomberg (@business) September 16, 2024

Tupperware stock plummets 57% because it plans to file for bankruptcy https://t.co/FHUFvEwWbx

— Quartz (@qz) September 16, 2024