The party is over for the colourful and innovative Tupperware brand, with it voluntarily initiating Chapter 11 bankruptcy proceedings over declining sales.
In a statement, Tupperware said it would seek court approval to continue operations and look for a potential buyer to keep the brand alive.
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Tupperware saw a spike in sales during the COVID-19 pandemic but has since recorded a fall in sales for six consecutive quarters.
President and chief executive of Tupperware Laurie Ann Goldman said the company explored “numerous strategic options” when it realised its “financial position [had] been severely impacted by the challenging macroeconomic environment.”
“Whether you are a dedicated member of our Tupperware team, sell, cook with, or simply love our Tupperware products, you are a part of our Tupperware family,” Goldman said.
“We plan to continue serving our valued customers with the high-quality products they love and trust throughout this process.”
Tupperware was founded in the 1940s by chemist Earl S. Tupper and later became famous in the 1950s and 60s when representatives held Tupperware parties to drive sales of its latest products.
It touched down in Australia in the 1960s.