Tupperware food storage containers have been used in many households for decades. However, the traditional US company recently ran out of money.
After years of problems, the food storage container specialist Tupperware has filed for bankruptcy in the USA. The company is simultaneously seeking a sale and wants to continue operating. A procedure under Chapter Eleven of the US bankruptcy law protects the company from claims by its creditors.
Tupperware, a pioneer in household food containers, has been struggling financially for some time. In recent months, negotiations have been underway with creditors to whom Tupperware owes several hundred million dollars.
The aim of the sale is to protect the brand, it said in a statement. At the same time, the company is to drive the transformation into a primarily technology-based company.
Source: Stern
