Tupperware Sold After Bankruptcy

Tupperware Files For Bankruptcy

Tupperware, the iconic kitchenware company known for its colorful plastic containers, has filed for bankruptcy. The company has been struggling with debt for years, and its financial situation has worsened in recent months due to the COVID-19 pandemic. Tupperware has now been sold to a group of investors led by Apollo Global Management for $818 million.

Tupperware's Struggles

Tupperware has been facing a number of challenges in recent years, including declining sales, increased competition, and changing consumer preferences. The company has also been weighed down by debt, which has limited its ability to invest in new products and marketing. The COVID-19 pandemic has further exacerbated Tupperware's financial problems, as stay-at-home orders have led to a decline in demand for its products.

Tupperware's Sale

Tupperware's sale to Apollo Global Management is expected to close in the coming weeks. The deal will give Apollo control of Tupperware's brand, products, and operations. Apollo has a track record of successfully turning around struggling companies, and it is hoped that it will be able to do the same for Tupperware. However, it is unclear what the future holds for Tupperware, as the company faces a number of challenges, including a changing retail landscape and increasing competition.