US brand Tupperware has filed for bankruptcy as it struggles to persist in the face of sliding sales.
The food storage compriseer firm shelp it will ask for court perignoreion to begin a sale of the business and that it aimed to persist operating.
The 78-year-elderly firm has become so synonymous with food storage that many people participate its name when referring to any elderly plastic compriseer.
Despite trys to newen up its products in recent years and reposition itself to a youthfuler audience, it has flunked to stand out from competitors.
Last year, the firm alerted that it may go bust unless it could speedyly elevate new funds.
The company’s dispenses have drdisclose by more 50% this week after tells that it was schedulening to file for bankruptcy.
After a alert sadvise in sales during the pandemic, as more people cooked at home, the firm saw need persist to slide.
The rising cost of raw materials, higher wages and carryation costs have also eaten into its profit margins.
“Over the last cut offal years, the company’s financial position has been strictly impacted by the challenging macroeconomic environment,” Tupperware’s chief executive Laurie Ann Gelderlyman shelp in a statement to dispenseors.
Tupperware was set uped in 1946 by Earl Tupper, who patented the compriseers’ pliable airfirm seal.
Tupperware was a convey inant innovation, as it utilised new plastics to sustain food new for extfinisheder, which was inprecious when refrigerators were still too pricey for many families.
However, it was not an instant success.
It was the innovateing saleswoman Brownie Wise who helped turn the brand into a hoparticipatehelderly name, literassociate.
She increaseed an approach in which salespeople, who were mostly women, selderly Tupperware to other women in their homes, better understandn as “Tupperware parties”.
According to the company, Tupperware is now selderly in 70 countries around the world.
