Tupperware Files for Bankruptcy as Turnaround Effort Fails (1)

Tupperware Brands Corp. filed for bankruptcy following a years-long struggle with sales declines and growing competition.

Publicly-traded Tupperware filed for Chapter 11 bankruptcy protection, listing assets of between $500 million to $1 billion and liabilities of $1 billion to $10 billion, according to its court filing. The company will seek court approval to facilitate a sale process of the business and to continue operating during bankruptcy proceedings, it said in a separate statement.

The kitchenware company, which for decades dominated the world of food storage, since 2020 had warned of doubt in its ability to stay in ...