Tupperware files for bankruptcy after years of business difficulties

Publicly traded Tupperware Company has filed for Chapter 11 bankruptcy protection. (File)

Tupperware Brands Corp. has filed for bankruptcy after years of struggling with declining sales and increasing competition.

Tupperware, a publicly traded company, has filed for Chapter 11 bankruptcy protection with assets of between $500 million and $1 billion and liabilities of between $1 billion and $10 billion, according to its court filing. The company will seek court approval to facilitate the sale of the business and to continue operating during the bankruptcy proceedings, it said in a separate statement.

The cookware company, which dominated the food storage world for decades, had warned since 2020 about its ability to continue operations. Starting in June of this year, it planned to close its only U.S. plant and lay off nearly 150 employees.

The Delaware bankruptcy filing follows months of negotiations between Tupperware and its creditors over how to handle more than $700 million in loans. Creditors had agreed to give it some relief on that debt, but the company continued to deteriorate.

In 1946, Tupperware founder Earl Tupper introduced his plastic products to the public and later patented their flexible airtight seal. The brand’s products then invaded American homes, largely through independent sales organized in suburban homes.