45°
Iconic 78-year-old food container pioneer Tupperware filed for Chapter 11 bankruptcy protection on Tuesday, Sept. 17 amid a years-long slump in sales.
The company known worldwide for its "Tupperware Parties" is now seeking court approval to continue operating during the proceedings as it pursues a sale.
"Whether you are a dedicated member of our Tupperware team, sell, cook with, or simply love our Tupperware products, you are a part of our Tupperware family," said President and Chief Executive Officer Laurie Ann Goldman. "We plan to continue serving our valued customers with the high-quality products they love and trust throughout this process.
"Over the last several years, the company's financial position has been severely impacted by the challenging macroeconomic environment.
"As a result, we explored numerous strategic options and determined this is the best path forward.
"This process is meant to provide us with essential flexibility as we pursue strategic alternatives to support our transformation into a digital-first, technology-led company better positioned to serve our stakeholders."
Tupperware, headquartered in Orlando, Florida, was founded by chemist Earl Tupper in 1946.
Click here to follow Daily Voice Lynn and receive free news updates.
