Tupperware Up Lorry

[LaoHongBiscuit]

Tupperware Brands plans to file for bankruptcy: Report​

Tupperware experienced a boost in sales during the COVID-19 pandemic from families who sheltered at home, cooked more and produced lots of leftovers. Sales have declined in recent quarters as the world re-opened. (Photo: AFP/Getty Images/Scott…see more
17 Sep 2024 10:16AM

Tupperware Brands is preparing to file for bankruptcy as soon as this week, Bloomberg News reported on Monday (Sep 16), citing people with knowledge of the plans.

The company's shares were down 15.8 per cent at 43 cents after the bell. They closed down 57 per cent.

Founded in 1946 by chemist Earl Tupper, the company's popularity exploded in the 1950s as women of the post-war generation held "Tupperware parties" at their homes to sell food storage containers as they sought empowerment and independence.

The COVID-19 pandemic provided a boost in sales from families who sheltered at home, cooked more and produced lots of leftovers. Sales have declined in recent quarters as the world re-opened.

Tupperware is planning to enter court protection after it breached the terms of its debt and enlisted legal and financial advisers, Bloomberg News reported on Monday.

The bankruptcy preparations follow protracted negotiations between Tupperware and its lenders over how to manage more than US$700 million in debt, according to the report.

Tupperware did not immediately respond to a Reuters request for comment.

In March, the company warned it was not certain its business could continue as a going concern and faced a liquidity crunch.
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[True Believer]

I remember my NS days when we could exchange our worn out uniforms and equipment for new ones. Lots of NSF would purposely damage their existing clothing to get replacements in mint condition during the kit exchange. Is it any wonder why Tupperware has to close shop?

 

[sbfuncle]

Tupper ware plastic container also got shares?

 

[Rogue Trader]

Wow.. a Titan falls

 

[Rogue Trader]

Tupperware is not about the product. Plastic containers are low tech and cheap. Tupperware's great strength was its innovative and penetrative selling style into homes

 

[NanoSpeed]

Tupper ware plastic container also got shares?

They should venture into condoms and portable hymens.

 

[sbfuncle]

They should venture into condoms and portable hymens.

This suggestion is indeed
innovative and penetrative selling style, but is into some Whore house disguised as home.

 

[nato33]

Lifetime warranty was a unique selling point too. The countless replacements of lids & parts and all must have affected the bottom line. Especially if 1 piece can be used for many years

 

[Rogue Trader]

Lifetime warranty was a unique selling point too. The countless replacements of lids & parts and all must have affected the bottom line. Especially if 1 piece can be used for many years

The replacement probably costs 2 cents to make. But an assurance is invaluable to building customer loyalty

 

[eatshitndie]

cheap takeaway and throwaway plastic food containers before and after xi pandamic was the death knell of tupperware. now plastics are being blamed for damage to the environment and food chain.

 

[oliverlee]

Fucking pandemic has killed everything. If your business hasn’t tanked it probably will in the next 5 years. First they fucked you with a lab virus, then the snake jab, and in the meantime plundered resources from everywhere. The only way to drive up prices while killing the economy is to impose an oligarchy on the world. That’s the WEF’s plan and so far it is working