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.