Tupperware files for bankruptcy as its colorful containers lose relevance
Tupperware Brands Corp. and some of its subsidiaries filed for Chapter 11 bankruptcy protection on Tuesday, giving in to dwindling demand for its once-iconic food storage containers and mounting financial losses.
The company’s struggles resumed after a short-lived pandemic boost, when increased home cooking briefly drove demand for its colorful, airtight plastic containers.
A post-pandemic jump in costs of raw materials such as plastic resin, as well as labor and freight, further dented Tupperware margins. -- More...
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