Tupperware Brands Corp. and some subsidiaries filed for Chapter 11 bankruptcy protection due to declining demand and financial losses. After a brief pandemic boost, rising costs of raw materials, labour, and freight further impacted margins.
Tupperware Files for Bankruptcy Amid Financial Struggles
CEO Laurie Goldman cited the challenging macroeconomic environment as a significant factor. The company listed assets between $500 million and $1 billion and liabilities between $1 billion and $10 billion.
The brand has struggled for four years, with sales falling for six consecutive quarters since Q3 2021. In 2023, it restructured debt obligations and enlisted Moelis & Co to explore strategic alternatives.
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