Tupperware files for Bankruptcy

Tupperware brands filed for Bankruptcy late on Tuesday ,succumbing to mounting losses amid poor demand for its once iconic food storage containers.
Over the past years the Company's financial position has been severely impacted by challenging macroscopic environment.
The Company said it needs to obtain Court approval for selling it's products and charting out a sales process for its business.As of June this year it had planned to close it's factory and lay off around 150 employees.

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braveheart21 · 61-69, M

So sad as it's a company that has been integral in so many millions of homes for decades... The ubiquitous Tupperware parties of the 60s and 70s

Babaloo6 · 41-45, M

@braveheart21 very true.

ArishMell · 70-79, M

It is sad, given how long Tupperware has been going. I hope the redundant staff can soon find good work again.

I wonder what has gone wrong. Losing to competition has been the fate of so many other long-established firms.

Is it the end though? Is it in receivership that might be able to save at least some of it?

I take it "challenging macroscopic environment" is from some statement issued by the company, but it means nothing, tells us nothing, and frankly is well suited to Private Eye magazine's "Pseuds' Corner" column.