JOURNAL ARTICLE

Tupperware Files for Bankruptcy as Turnaround Effort Fails.

  • Published In: Bloomberg.com, 2024. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Ronalds-Hannon, Eliza; Church, Steven 3 of 3

Abstract

Tupperware Brands Corp., the 80-year-old company known for its plastic food storage containers, has filed for bankruptcy due to declining sales and increased competition. The company filed for Chapter 11 protection in Delaware and plans to continue operating while seeking court approval for a sale process. Tupperware had been struggling since 2020 and briefly experienced a boost in sales during the COVID-19 pandemic. However, the company failed to adapt to changing consumer preferences and the rise of online shopping. Tupperware listed assets between $500 million and $1 billion and liabilities between $1 billion and $10 billion in its bankruptcy filing. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2024/09, pN.PAG
  • Document Type:Article
  • Subject Area:History
  • Publication Date:2024
  • Accession Number:179706149
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