Tupperware Brands Corp. (TUP.N) has filed for Chapter 11 bankruptcy protection due to declining demand for its food storage containers.
The company, once a household name, gained popularity in the 1950s as women hosted “Tupperware parties” to sell its iconic products, seeking empowerment and independence. However, it has struggled to compete with rivals offering cheaper and more environmentally friendly alternatives.
Just a month ago, Tupperware expressed doubts about its ability to remain operational. The company has faced rising costs post-pandemic, including labor, freight, and raw materials such as plastic resin, which have further strained its business.
According to bankruptcy filings, Tupperware estimates its assets between $500 million and $1 billion, while its liabilities range from $1 billion to $10 billion.
