Tupperware Brands Files for Bankruptcy After Years of Declining Sales

Tupperware Brands Files for Bankruptcy After Years of Declining Sales
Tupperware Brands Corp, the iconic American food storage container maker, has filed for Chapter 11 bankruptcy after years of declining sales. The company, which once dominated the market with its airtight plastic products, has faced financial struggles in recent years. Tupperware’s CEO said, "Over the last several years, the company's financial position has been severely impacted by the challenging macroeconomic environment." According to bankruptcy documents, Tupperware's assets range between $500 million and $1 billion, with liabilities between $1 billion and $10 billion. The company plans to seek court approval to continue operations during the bankruptcy process while exploring strategic alternatives, including a potential sale. Reports say the firm held lengthy talks with its creditors to restructure a $700 million debt. Tupperware was founded by American chemist Earl Tupper in 1946.
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