US company 'Tupperware' files for bankrupsy

American container company, ‘Tupperware’ has filed for bankruptcy after becoming a household name. The company is rumoured to have debts of over $700 million. (£524 million). 

The business was founded in 1946, and led the way for food storage after women were photographed for newspapers hosting ‘Tupperware parties’ which saw ladies get together to discuss and purchase the Tupperware sets. 

The sets were created by Earl Tupper in 1946 for the containment of food with a then-patented ‘burping seal’ airtight mechanism. It gained great popularity, with Queen Elizabeth II even using the containers for cereal storage. The word ‘tupperware’ is now used in most households in association with any similarly designed, and often not the Tupperware branded, plastic food containers. 

The Covid-19 pandemic offered a promising rise in sales in the original tupperware containers after families stayed indoors and cooked meals together in their houses. 

However, the company announced a 150 reduction in employees at one of its US factories, with plans to move to Mexico to pay lesser salaries. This comes after Tupperware faced financial difficulties in April of 2023.

Tupperware’s president and CEO Laurie Ann Goldman has said ‘Over the last several years, the company’s financial position has been severely impacted by the challenging macroeconomic environment,’ and that they have ‘explored explored numerous strategic options’ before deciding this would be ‘the best path forward’.

The company has stated that it plans to maintain operations throughout the bidding process, which is due to take place over a 30-day period, in hopes of finding a buyer.