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Tupperware Brands, once an iconic name in food storage, has filed for bankruptcy, citing mounting financial losses.
The US-based company, which became a household staple in the 1950s through “Tupperware parties” hosted by women seeking independence and financial empowerment, has struggled to maintain its relevance in today’s market.
Competition from rivals offering cheaper, environmentally friendly alternatives has eroded Tupperware’s market share over the years.
In addition to falling demand, the company has been hit by rising costs for labor, freight, and raw materials like plastic resin, which have further squeezed its profit margins.
Last year, Tupperware’s stock experienced volatile swings as it became a focus of “meme stock” rallies, but the temporary interest failed to provide a lasting turnaround.
Despite restructuring its debt and enlisting an investment bank to explore strategic alternatives, Tupperware has been unable to stabilize its business.
As part of the bankruptcy process, the company plans to continue operations and is seeking court approval to keep selling its products while exploring the possibility of a sale.
