Tupperware Files for Bankruptcy After Struggling With Declining Sales

The iconic kitchen brand Tupperware and some of its subsidiaries have filed for Chapter 11 bankruptcy in the United States, as the company struggled to stay afloat amid declining sales of its products. The Orlando, Florida-based company said on Sept. 17 that it will seek court approval to initiate a sale process for the business and to continue operations during the bankruptcy proceedings. Laurie Ann Goldman, chief executive officer of Tupperware, said the process will enable the company to pursue “strategic alternatives” to advance its transformation into a “digital-first, technology-led” business. “Over the last several years, the company’s financial position has been severely impacted by the challenging macroeconomic environment,” Goldman said in a statement....