Post by sevenofnine on Sept 18, 2024 11:06:17 GMT -5
NO!!!!!
Personally my mom still have hers LOL!
Tupperware Brands Inc. and some of its subsidiaries on Tuesday filed for Chapter 11 bankruptcy protection in the United States amid dwindling demand for its once-iconic food storage containers.
"Over the last several years, the company's financial position has been severely impacted by the challenging macroeconomic environment," president and CEO Laurie Ann Goldman said in a statement.
Last year, the company raised "substantial doubt" about its ability to keep operating amid its poor financial position.
Long-drawn struggles
Tupperware witnessed a short-lived boost during the coronavirus pandemic when home cooking fueled demand for its trademark colorful, airtight plastic containers.
After the pandemic, a spike in raw material costs, along with increased labor and freight costs, further made a hole in the company's margins.
The firm has been trying to revive its business for nearly four years. It reported a fall in sales for six successive quarters since the third quarter of 2021, as inflation continued to hinder its low and mid-income consumer base.
On Tuesday, Tupperware said it would seek court approva
www.dw.com/en/tupperware-files-for-bankruptcy-as-demand-shrinks/a-70245540
Personally my mom still have hers LOL!
Tupperware Brands Inc. and some of its subsidiaries on Tuesday filed for Chapter 11 bankruptcy protection in the United States amid dwindling demand for its once-iconic food storage containers.
"Over the last several years, the company's financial position has been severely impacted by the challenging macroeconomic environment," president and CEO Laurie Ann Goldman said in a statement.
Last year, the company raised "substantial doubt" about its ability to keep operating amid its poor financial position.
Long-drawn struggles
Tupperware witnessed a short-lived boost during the coronavirus pandemic when home cooking fueled demand for its trademark colorful, airtight plastic containers.
After the pandemic, a spike in raw material costs, along with increased labor and freight costs, further made a hole in the company's margins.
The firm has been trying to revive its business for nearly four years. It reported a fall in sales for six successive quarters since the third quarter of 2021, as inflation continued to hinder its low and mid-income consumer base.
On Tuesday, Tupperware said it would seek court approva
www.dw.com/en/tupperware-files-for-bankruptcy-as-demand-shrinks/a-70245540
!!
