Tupperware files for bankruptcy

[d_marsh]

Iconic company files for bankruptcy​

September 18, 2024 Timothy Frudd

Tupperware Brand Corporation, an iconic food storage container company, announced on Tuesday that it was filing for bankruptcy.
In a Tuesday press release, Tupperware Brand Corporation revealed it had voluntarily decided to initiate Chapter 11 bankruptcy proceedings in the U.S. Bankruptcy Court for the District of Delaware.

According to Tuesday’s press release, the iconic company is seeking court approval to continue operations during the bankruptcy process while continuing to provide customers with products online, through sales consultants, and through the company’s retail partners. The company is also expected to ask for court approval to “facilitate a sale process for the business in order to protect its iconic brand and further advance Tupperware’s transformation into a digital-first, technology-led company.”
Tupperware Brand Corporation explained that following the appointment of a new management team, the company has implemented changes to modernize the business, increase growth, and improve “omnichannel capabilities.”
“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,” Tupperware Brand Corporation CEO Laurie Ann Goldman said. “We plan to continue serving our valued customers with the high-quality products they love and trust throughout this process.”

Goldman explained that the company has faced a “challenging macroeconomic environment” over the past several years, which has led to the company’s current financial position. Goldman added, “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.”
According to bankruptcy filings obtained by Fox Business, Tupperware Brand Corporation listed between $500 million and $1 billion in assets and between $1 billion and $10 billion in liabilities, along with between 50,000 and 100,000 creditors.
Fox Business reported that Tupperware Brand Corporation, which was founded in 1946 by chemist Earl Tupper, achieved massive success in the 1950s as women held “Tupperware parties” to sell the iconic brand’s food storage containers in an effort to remain independent after World War II.

Facing struggles over the past several years, the company implemented changes in 2020 to reach new goals, such as increasing the company’s profitability and restructuring the company’s debt, according to Fox Business. Despite the changes, a Securities and Exchange Commission filing from April of 2023 obtained by Fox Business revealed that “[t]he Company has concluded that there is substantial doubt about its ability to continue as a going concern for at least one year from the expected issuance date of its Form 10-K financial statements.”


https://americanmilitarynews.com/2024/09/iconic-company-files-for-bankruptcy/

 

[UserNameTaken]

My mother was a "Tupperware Lady." I still have a few of her containers from the 60's.

 

[Morgan101]

We have several Tupperware products that we use every day. Sad. A company with really good products that has a really poor Marketing strategy. I have worked for two companies like that. Do they still sell heir products through home shows? I bet if they sold their top products in retail outlets they could turn things around.

 

[d_marsh]

I am betting that cheap Chinese rip offs using questionable and possible dangerous materials has led to this.

I have a Tupperware strainer that my pops and his wife got as a wedding gift. A weird color but rock solid and works perfectly. Been used thousands of times. Chinese crap is cheaper but it's trash in 6-12 months.

 

[Supervisor42]

Iconic company files for bankruptcy​

September 18, 2024 Timothy Frudd
Tupperware Brand Corporation, an iconic food storage container company, announced on Tuesday that it was filing for bankruptcy.
In a So, he quit trying. This was 2 weeks after she died. Now, they are sending us her bills since we did an address change. I paid them for the time she was alive plus the 2 weeks that the grandson tried to cancel. Nope, they want almost 3 months after the fact as well. Well, that ain't happenin. I'm not sure what I'm gonna do, but I'm not paying that $180 for a phone that was supposed to be cancelled. I might just send the bills back.....return to sender......addressee is deceased. I highly doubt they will go after the 'estate' for that amount of money. But, I guess they can pay their lawyers to come after us if they want to.....which would be really stupid since there really isn't an estate. press release, Tupperware Brand Corporation revealed it had voluntarily decided to initiate Chapter 11 bankruptcy proceedings in the U.S. Bankruptcy Court for the District of Delaware.

According to Tuesday’s press release, the iconic company is seeking court approval to continue operations during the bankruptcy process while continuing to provide customers with products online, through sales consultants, and through the company’s retail partners. The company is also expected to ask for court approval to “facilitate a sale process for the business in order to protect its iconic brand and further advance Tupperware’s transformation into a digital-first, technology-led company.”
Tupperware Brand Corporation explained that following the appointment of a new management team, the company has implemented changes to modernize the business, increase growth, and improve “omnichannel capabilities.”
“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,” Tupperware Brand Corporation CEO Laurie Ann Goldman said. “We plan to continue serving our valued customers with the high-quality products they love and trust throughout this process.”

Goldman explained that the company has faced a “challenging macroeconomic environment” over the past several years, which has led to the company’s current financial position. Goldman added, “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.”
According to bankruptcy filings obtained by Fox Business, Tupperware Brand Corporation listed between $500 million and $1 billion in assets and between $1 billion and $10 billion in liabilities, along with between 50,000 and 100,000 creditors.
Fox Business reported that Tupperware Brand Corporation, which was founded in 1946 by chemist Earl Tupper, achieved massive success in the 1950s as women held “Tupperware parties” to sell the iconic brand’s food storage containers in an effort to remain independent after World War II.

Facing struggles over the past several years, the company implemented changes in 2020 to reach new goals, such as increasing the company’s profitability and restructuring the company’s debt, according to Fox Business. Despite the hanges, a Securities and Exchange Commission filing from April of 2023 obtained by Fox Business revealed that “[t]he Company has concluded that there is substantial doubt about its ability to continue as a going concern for at least one year from the expected issuance date of its Form 10-K financial statements.”


https://americanmilitarynews.com/2024/09/iconic-company-files-for-bankruptcy/

Long overdue. I have always hated them.
Screamed at continuously: "Don't put them in the microwave, it ruins them!!!".
Of course, being a guy, I would forget. I still remember all the spankings I got.
"You ruined it!!! I will have to wait until there is another party before I can get a replacement!"
There is an abundance of cheap, (read: disposable, and husband-proof) equivalents available in every store today.
It's about time Tupperware followed the black&white TV set (which they were advertised on), into history.

 

[Amish Heart]

I always liked Tupperware, and still have many pieces. But it's so much more expensive than the knockoffs, and in this bad economy, who has the extra money?

 

[Spikedriver]

I hate to lose another company like Tupperware but they'll be back after restructuring. There are just so many alternatives now, like the Betty Crocker containers or Rubbermaid containers, that buying Tupperware doesn't make a whole hell of a lot of sense any more. And when a company isn't competitive anymore, well...this is what happens.

 

[LadyLocust]

When did they start up? Thing is most folks like disposable. You still have to wash Tupperware.

 

[Bacpacker]

I always liked Tupperware and still have some we use all the time. Now days they price themselves out of business

 

[M0del_31]

Not enough people cook at home and have leftovers...that and the lids always come flying off the 3rd cabinet shelf when you open the door to grab a coffee cup from the 1st.

 

[Supervisor42]

I hate to lose another company like Tupperware but they'll be back after restructuring. There are just so many alternatives now, like the Betty Crocker containers or Rubbermaid containers, that buying Tupperware doesn't make a whole hell of a lot of sense any more. And when a company isn't competitive anymore, well...this is what happens.

When did they start up? Thing is most folks like disposable. You still have to wash Tupperware.

When they started up, they had a monopoly and did for the decade that followed, likely due to a patent.
If you wanted something plastic to put leftovers in the fridge with, you had only one choice, and you needed to attend a party to get it.
Times change.
You wanna buy a good black & white TV?

 

[Haertig]

If everyone would just mail them our containers with missing lids and lids with missing containers, they'd have enough to piece together an inventory they could sell to get out of bankruptcy.

 

[dademoss]

Lori has some locked in a security container so I can't "borrow" it I put leftovers in ball jars, freeze em or refrigerate till I eat the leftovers.

 

[Pearl]

If everyone would just mail them our containers with missing lids and lids with missing containers, they'd have enough to piece together an inventory they could sell to get out of bankruptcy.

That wouldn't be fair to all the single socks from everyone's dryers!

 

[Hooch]

Now what will I do to stretch my food dollar....dang..

 

[Caribou]

When Mom dies I’ll snag my share of her Tupperware. Some of it comes from the 1950”s. I

f you want good Tupperware, grab it now. Once it is bought out the new owners will take the name and replace the product with the cheap plastic.

 

[Tootsie]

I spoke Saturday with a long time rep. I had asked her about replacement parts when I heard that the building in the US where the replacements came from had been sold. Recent news was that they were relocating to Mexico. She said no worries, and that replacements were very easy, just contact Tupperware.com. and generally, just a screen shot was all that was required. Now, obviously, the story has changed. I am going to try to get those damaged parts replaced as soon as possible and not put it off any more.

 

[Supervisor42]

If everyone would just mail them our containers with missing lids and lids with missing containers, they'd have enough to piece together an inventory they could sell to get out of bankruptcy.

I never understood why they couldn't get on the "compatibility" train.
Every container had a slightly different lid, some less than 1/4" difference in diameter.

 

[Haertig]

I never understood why they couldn't get on the "compatibility" train.
Every container had a slightly different lid, some less than 1/4" difference in diameter.

Ball jars are great. There's only two sizes of lid (that I am aware of).

 

[Haertig]

I never understood why they couldn't get on the "compatibility" train.
Every container had a slightly different lid, some less than 1/4" difference in diameter.

That would be good for customers. But not so good for their replacement parts sales. I'll bet planned incompatibility was a consciously made decision from an era when companies could get away with this.

 

[Caribou]

I never understood why they couldn't get on the "compatibility" train.
Every container had a slightly different lid, some less than 1/4" difference in diameter.

First it started with patent infringement. By the time the patent expired the new companies were set up with their own designs and patents.

 

[joel]

I have Tupperware that is forty years old.

 

[Tim Horton]

As a man I have learned that when handling kitchen storage containers there are 2 rules..

1.. NEVER put anything into a container unless you have the exact size lid right beside the container you want to use..
2.. NEVER put any container in the microwave, unless it and the lid say Cool Whip on them so if it wrinkles you can discard the pair and not get yelled at...

 

[EastenerWesterner]

Tupperware followed a business model in the 1950’s that was created in the ‘30s.
Guardian Service and another company sold at parties cast aluminum cookware. Some of this old stuff is pretty superior to Teflon and other next gens. And you can buy it for $5. And this comes from someone that is a cast iron person.
I think the plandemic put the nails in the coffin for Tupperware parties. Did it kill Avon too?

 

[d_marsh]

They should have started making weapons and military hardware like the Ball Jars did. They are so flush they now have a sub company that orders the jars from elsewhere with their logo on them.

Ball Aerospace & Technologies Corp., Beavercreek, Ohio, has been awarded a $91,020,870 cost-plus-fixed-fee contract for Trusted and Elastic Military Platforms and Electronic Warfare (EW) System Technologies (TEMPEST) Resilient and Agile Mission Systems (RAMS).

https://news.clearancejobs.com/2021/04/23/ball-aerospace-awarded-91m-us-air-force-contract/

 

[Weedygarden]

Ball jars are great. There's only two sizes of lid (that I am aware of).

There are two main sizes of jars, but they do have small lids for their small jars that are 2 ounces. I have a few and have never canned anything in them. I use them more for spices and salad dressings to transport.

 

[Tim Horton]

Actually....
There are 4 different sizes of 2 piece, lid and ring, North American jar lids that I have used..
Largest to smallest..
Large mouth.. Ball, Mason type..
Jem.. This size an older size popular in Canada at one time..
Standard mouth.. What is known as, small mouth Ball, Mason size..
63 size.. This is a smaller version of the standard, small mouth Ball, Mason size..

Any half gallon, 2 liter jars I have used all had ...large mouth... size lids..
There may be a gallon size Ball, Mason type jar available, but I'm not sure what lid it uses..

There is a special deep ring in both wide mouth, and standard mouth sizes to be used with the thicker glass lids and rubber rings..

Australia and Europe there is a Weck brand, type jar and lid that has lids like the thick glass type lids and seals that uses a clip that snaps on the lid and jar to hold it in place for processing.. There may be a second type of this kind of system popular, available in Europe..

This is my 5 cents of personal experience..
Facts, details, experience to add??

 

[Snowman]

On June 14, 2024, Tupperware announced that it would close its last remaining US manufacturing plant in Hemingway, South Carolina and shift production to their plant in Lerma in Mexico, with the closure to be completed in January 2025.[30]

On September 16, 2024, Tupperware Brands Corp. announced that they were preparing to file for Chapter 11 bankruptcy protection later in the week after a failed comeback after beneficial sales during the COVID-19 pandemic. The company's stock fell nearly 60% after the announcement.[31] On September 18, Tupperware Brands filed for Chapter 11 bankruptcy protection, with plans to continue operating during the proceedings.[32]