Tupperware and some of its subsidiaries have filed for Chapter 11 bankruptcy protection, the once-iconic food container maker said in a statement.
Tupperware and some of its subsidiaries filed for Chapter 11 bankruptcy protection, the once-iconic food container maker said in a statement late Tuesday.The company has suffered from dwindling sales following a surprise surge during the COVID-19 pandemic, when legions of people stuck at home tried their hands at cooking, which increased demand for Tupperware's colorful plastic containers with flexible airtight seals.
'We plan to continue serving our valued customers with the high-quality products they love and trust throughout this process,' Goldman said. The firm's shares were trading at $0.5099 Monday, well down from $2.55 in December last year. Tupperware said it had implemented a strategic plan to modernize its operations and drive efficiencies to ignite growth following the appointment of a new management team last year.
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