The company, which was established 78 years ago, stated that it was trying to safeguard the brand by getting permission to locate a buyer for the company.
The American corporation is most known for its “Tupperware parties,” which gained enormous popularity in the 1960s and 1970s when people hosted parties at their homes and marketed the company’s largely plastic items to friends, family, and neighbors.
It is also said that the late Queen used to use the famous brand.
Tupperware Brands Corporation announced that, after considering “many strategic options” to stay afloat, declaring bankruptcy was the “best path forward.”
“Over the last several years, the company’s financial position has been severely impacted by the challenging macroeconomic environment,” stated Laurie Ann Goldman, chief executive.
You are a part of our Tupperware family whether you sell, use our goods in your cooking, are a committed team member, or just adore them.
“We plan to continue serving our valued customers with the high-quality products they love and trust throughout this process.”
The embattled company announced last year that it was trying to get funding from investors because it was in danger of failing.
