After 78 years in business, food storage industry icon Tupperware has filed for bankruptcy.
According to a statement released by the company, Tupperware Brands Corporation announced the company "voluntarily initiated Chapter 11 proceedings in the United States Bankruptcy Court" as of Wednesday. "Tupperware will seek Court approval to continue operating during the proceedings and remains focused on providing its customers with its award-winning, innovative products through Tupperware sales consultants, retail partners and online," the statement continued. "The Company will also seek 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."
