[Source: Mango City] According to CCTV News citing Reuters, on the 17th local time, the American household products company Tupperware issued a statement saying that it had filed for bankruptcy protection. Tupperware's CEO said in a press release that the company's financial posi

[Source: Mango City]

According to CCTV News citing Reuters, on the 17th local time, the American household products company Tupperware issued a statement saying that it had filed for bankruptcy protection. Tupperware's CEO said in a press release that the company's financial position over the past few years has been severely affected by the macroeconomic environment.

Public information shows that Tupperware is headquartered in the United States and is one of the world's largest manufacturers of plastic storage containers. As soon as the news about

came out,

related topics immediately topped the Weibo hot search list.

Debt of US$1 billion to US$10 billion

According to reports, Tupperware President and CEO Laurie Ann Goldman issued a statement that day, saying, “We explored a variety of strategic options and determined that this was the best The path forward. ”

Tupperware’s bankruptcy filings showed the company had assets of between $500 million and $1 billion and liabilities of between $1 billion and $10 billion. The company said in a separate statement that it would seek court approval to facilitate a sale of the business and continue operating and paying employees and suppliers during the bankruptcy proceedings.

Tupperware Co. is best known for its iconic airtight plastic containers, but sales have been declining in recent years, and plans to distribute through large chain stores have failed to reverse its fortunes.

Screenshot of Tupperware official website

Since 2020, the company has warned that there are doubts about whether the company can continue to operate. In June, the company planned to close its only U.S. factory and lay off nearly 150 people.

Since the third quarter of 2021, Tupperware Co.'s sales have declined for six consecutive quarters as continued inflation discouraged low- and middle-income consumers from shopping.

Netizens call it "tears of the times"

Tupperware was founded by chemist earltupper in 1946 and has a history of 78 years. Producing airtight plastic containers that helped keep food fresh for struggling families during the postwar and Great Depression years, the company marketed its products early on at parties hosted by suburban housewives. Soon, Tupperware became the go-to brand for plastic containers.

As the company grew rapidly, the company opened a factory in South Carolina in April 1976. But the plant announced its closure on June 13, effective later this year, and production at the plant was moved to Lerma, Mexico.

The news of Tupperware's bankruptcy made many netizens call it a surprise, while some netizens called it "tears of the times."

Source: CCTV News, China News Network, Dahecai Cube, Sichuan Observation, Sina Weibo

Editor | Chen Yihui

first trial | Du Zhenyu

second trial | Xu Zhiqiang

third trial | Tang Hongshun