Tupperware Brands Plans to File for Bankrutpcy, Sources Say

Tupperware Brands, the household products company known for its plastic storage containers, is planning to file for bankruptcy, according to people familiar with the matter.

The company has been struggling for years to revive its business, and the bankruptcy filing would be the latest in a series of setbacks for the once-iconic brand.

Tupperware Brands has been facing a number of challenges in recent years, including declining sales, increasing competition, and rising costs. The company has also been dealing with a number of legal issues, including a class-action lawsuit alleging that its products contain harmful chemicals.

The bankruptcy filing would allow Tupperware Brands to restructure its debt and operations. The company is expected to continue operating during the bankruptcy process, but it is unclear what the long-term future of the brand will be.

Tupperware Brands was founded in 1946 by Earl Tupper. The company's products quickly became popular, and Tupperware became a household name. However, the company has faced increasing competition in recent years from other brands, including Rubbermaid and Glad.

In addition to its financial challenges, Tupperware Brands has also been dealing with a number of legal issues. In 2019, the company was sued by a group of consumers who alleged that its products contain harmful chemicals. The lawsuit is still pending.

The bankruptcy filing is the latest in a series of setbacks for Tupperware Brands. The company has been struggling for years to revive its business, and the bankruptcy filing could be the end of the road for the once-iconic brand.