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Written by: Susannah Streeter
- Tupperware is filing for bankruptcy after 78 years, after turnaround plans failed.
- The iconic homewares firm will seek court permission to start a sale process of the business
- It aims to continue operating during the bankruptcy proceedings.
The party has been over for some time for Tupperware. Shifts in buyer behaviour pushed its containers out of fashion, as consumers have started to wean themselves off addictions to plastics and find more environmentally conscious ways of storing food.
The company had tried to show it’s at the forefront of the reusable revolution, but it proved difficult to shake off its old-fashioned image. Once lauded for its patented ‘burping’ seal, the company has suffered from serious hiccups in its financial reporting, by mis-stating results in 2021 and 2022, leading to a frantic, but unfruitful, search for fresh investment.
It’s attempts to appeal to younger shoppers by selling in the US chain Target haven’t been as successful as hoped. There is still a chance a buyer for the business can be found, but with plastic seen as far from fantastic, among eco-aware consumers, revitalising the brand will be an uphill struggle.
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