Insolvency: Green light for Tupperware

Tupperware receives preliminary insolvency proceedings

The district court of Arnsberg has approved the preliminary insolvency proceedings for the Tupperware subsidiary based in Wuppertal, Germany. This is reported by the German Press Agency (dpa) with reference to the district court.

Approval by self-administration

As part of self-administration, the management will continue to manage the company's business operations under the supervision of an insolvency administrator. The aim is to create a sustainable solution for the future of Tupperware Germany and to protect the interests of all stakeholders, including employees, customers, and creditors.

Background of the insolvency

Tupperware has been facing financial difficulties for some time. In 2022, the company announced restructuring measures, including job cuts and the closure of its headquarters in Wuppertal. The insolvency application was finally filed in January 2023.