Tupperware Brands filed for bankruptcy protection last week, citing mounting losses due to poor demand for its products.
Tupperware will seek court approval to continue operating during the proceedings and says that it remains focused on providing its customers with its award-winning, innovative products through Tupperware sales consultants, retail partners and online.
The company will also seek court approval to facilitate a sale process for the business, in order to protect its brand and further advance its transformation into a digital-first, technology-led company.
Following the appointment of a new management team within the last year, Tupperware has implemented a strategic plan to modernise its operations, bolster omnichannel capabilities and drive efficiencies to ignite growth. The company has made significant progress and intends to continue this important transformation work.
“Whether you are a dedicated member of our Tupperware team, sell, cook with, or simply love our Tupperware products, you are a part of our Tupperware family. We plan to continue serving our valued customers with the high-quality products they love and trust throughout this process,” said Laurie Ann Goldman, president and ceo of Tupperware.
“Over the last several years, the company’s financial position has been severely impacted by the challenging macroeconomic environment. As a result, we explored numerous strategic options and determined this is the best path forward.
“This process is meant to provide us with essential flexibility as we pursue strategic alternatives to support our transformation into a digital-first, technology-led company better positioned to serve our stakeholders.”
