Tupperware, the iconic plastic container brand founded in 1946 by engineer Earl Tupper, has entered the bankruptcy process after years of declining sales and a buildup of debt. a debt that exceeds 700 million dollars. This Tuesday, the company’s shares fell by more than 57% on the New York Stock Exchange, reflecting the company’s serious financial situation.
The initiation of this legal proceeding is intended to obtain court approval to continue operating while sale or restructuring options are explored, thereby protecting the iconic brand. Laurie Ann Goldman, current executive director, explained that increasing competition and falling demand In recent years, they have had a negative impact on the company.
Tupperware was a benchmark in home delivery, with the famous “Tupperware Parties”which became a key source of income for women in the post-war period. Since the 1950s, these social gatherings have fueled the brand’s global expansion, reaching more than 100 countries.
Despite its past successes, the company has faced challenges in the last decade due to the emergence of most competitive brands and changes in consumer habits. As some customers point out, “it’s no longer worth paying more just for the name.”
