TUPPERWARE Brands and some of its subsidiaries filed for Chapter 11 bankruptcy protection on Tuesday, succumbing to declining demand for its once-popular colorful food storage containers and ballooning losses.

The company's struggles to stem the drop in sales resumed after a brief surge during the pandemic when people cooked more at home and turned to its airtight plastic containers to store leftovers. The post-pandemic jump in costs of critical raw materials such as plastic resin, as well as labor and freight further dented the company's margins.

In August, Tupperware had raised substantial doubt about its ability to continue as a going concern for the fourth time since November 2022 and said it faced a liquidity crunch.

The company listed $500 million to $1 billion in estimated assets and $1 billion-$10 billion in estimated liabilities, according to bankruptcy filings in the U.S. Bankruptcy Court for the District of Delaware.

Tupperware has been planning to file for bankruptcy protection after breaching the terms of its debt and enlisting legal and financial advisers, Bloomberg reported on Monday.

The report said the bankruptcy preparations began following prolonged negotiations with lenders over the more than $700 million in debt. - Reuters

many mak cik will lose their income

Time Machine what brand bro?

My family and relatives used to be an avid collectors of Tupperware products, along with Arcopal and Arcoroc.

Nowadays, all of them being put as display in our cupboards and hidden away in boxes, occasionally taken out to be use on special occasions.

This post has been edited by MRaef: Sep 18 2024, 01:26 PM

How many times you can file for bankruptcy? After bankruptcy you still can bankrupt again?

Cannot compete with all the China plastic companies.

finally, after bankcrupt, your family will own scarce artifacts that will be worth few hundred thousands.

Product tahan lama, kompeni tak tahan selamanya

It's Chapter 11. Not actual bankruptcy, iinm it's a way to stop creditors from claiming their debt while the company is restructuring.

Now use Lock and Lock glass + plastic

More airtight

Chapter 11 bankruptcy protection, still got time

Kito sudah menang

the product more lasting than the company.

Can be collectors item later when no more production

there goes lifetime warranty .... when lifetime ends

Because of product tahan lama that the company tak tahan lama, that's why most companies purposely shorten their products lifespan.

This post has been edited by smsid: Sep 18 2024, 02:14 PM

cant beat RM2 tupperware from rm2 shop all over the world..

Kamon gaise, pulang kan balik tupperware mak kau tu.

r/wallstreetbet kambing

Tupperware pun kena game. Kesian.