Tupperware: Embattled food container firm files for bankruptcy

Published On Sep 18, 2024, 12:56 AM

Tupperware Brands, known for its food storage containers, has filed for bankruptcy due to significant financial losses and declining sales. The company plans to continue operations during the bankruptcy process while seeking court approval to sell the business. Tupperware's sales have plummeted, exacerbated by rising costs and competition from cheaper alternatives. Shares in the company have fallen over 50% this week amidst the bankruptcy news.