Company intends to continue providing customers with high-quality, innovative products through Tupperware sales consultants, retail partners, and its tupperware.com online platform
American multinational company Tupperware Brands, synonymous with airtight plastic food containers, has filed for Chapter 11 bankruptcy protection following slump in sales and increasing competition.
The Orlando, Florida-based firm will seek court approval to continue operating during the bankruptcy proceedings and remains focused on providing customers with its high-quality, innovative products through Tupperware sales consultants, retail partners, and its online platform. The company will also ask for court permission to facilitate a sale process for the business in order to protect its iconic brand and further advance Tupperware’s transformation into a digital-first, technology-led company.
Additionally, the company will file certain customary motions seeking court approval to support its operations during the process, including the continued payment of employee wages and benefits as well as compensating vendors and suppliers.
Following the appointment of a new management team, Tupperware has implemented a strategic plan to modernize its operations, bolster omnichannel capabilities, and drive efficiencies to ignite growth. The company has made significant progress and intends to continue this important transformation work.
“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. We plan to continue serving our valued customers with the high-quality products they love and trust throughout this process,” says Laurie Ann Goldman, President & CEO, Tupperware Brands.
“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,” adds Goldman.
Founded by Earl Silas Tupper in 1946, Tupperware came at a time when saving leftovers had become a household necessity given the economic hardships of the post-War years. Over time, Tupper’s hermetically-sealed plastic containers became aspirational, mostly with self-employed women, who hosted Tupperware “parties” at homes, where friends would gather with food and drinks, as a company representative demonstrated the items for sale, in what came to be known as “party plan” marketing.
