Founded 80 years ago, Tupperware took its big leap in 1964. In recent years, it has been unable to cope with its debts or restructure itself.
It finally happened. Tupperware, The maker of iconic plastic kitchen utensil boxes has filed for bankruptcy in the United States after years of financial difficulties. Tupperware Brands Corp seeks sell the business without ceasing operations. Has officially declared bankruptcy under Chapter 11 of the United States bankruptcy law.
Rise and fall of an icon
The American firm revolutionized the world of household items with its bowls, plates and kitchen containers, becoming a symbol of post-World War II prosperity. But the Orlando-based company, founded in 1946 by Earl Tupper, has been struggling amid fiercer competition in the home goods market and the rise of online commerce.
Tupperware products had a momentary boom during the coronavirus pandemic, in which the practice of cooking at home flourished. After the Covid-19 crisis, the trend changed completely.
Founded 80 years ago, Tupperware made the big leap in 1964, when it introduced its packaging to the public with the original hermetic seal designed by its founder, Earl Tupper. It was then that the brand burst into American homes, largely through sales meetings organized by middle-class women in the suburbs of big cities
In recent months, the company has been negotiating with lenders to whom he owes several hundred million dollars. According to a statement, the company said the best way to protect the Tupperware brand is to sell it. Laurie Ann Goldman, Tupperware’s president and chief executive, said Tuesday night: “Over the past several years, the company’s financial condition has been severely impacted by the difficult macroeconomic environment. As a result, we explored numerous strategic options and determined that this is the best path forward.”
Since then the company has continued to rely heavily on direct sales from an army of amateur suppliers. In 2022 The firm had more than 300 thousand independent sellersOver the years, the term “tupper”, translated into Spanish as táper, became synonymous with plastic food containers.
Source: Ambito
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