On September 17, 2024, the Tupperware Brands Corporation announced it had begun the process of filing a Chapter 11 reorganization bankruptcy. "Over the last several years, the Company's financial position has been severely impacted by the challenging macroeconomic environment," Laurie Ann Goldman, president and CEO of Tupperware, said in a press release. "As a result, we explored numerous strategic options and determined this is the best path forward."

Tupperware wants to continue to service its customers and retailers, give its workers their wages and benefits, and pay suppliers and vendors, so it's looking for court approval on these proceedings. To protect what's left of the fallen container empire, the company also wants to sell the business with the goal of advancing Tupperware's modernization, which it has reportedly already made progress on. "This process is meant to provide us with essential flexibility as we pursue strategic alternatives to support our transformation into a digital-first, technology-led company better positioned to serve our stakeholders," Goldman explained.

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With So Many Options, Shoppers No Longer Need Nostalgia

The company managed to avoid bankruptcy last year, after it announced a plan to restructure and reallocate its debt. Yet, this plan didn't carry Tupperware for very long.

Tupperware is so iconic that the brand name is practically a synecdoche for all food storage containers. (If you're wondering what a synecdoche is, think of how "Kleenex" is often used to refer to any facial tissue when it's actually a specific brand.) Tupperware became a household product in the 1950s and '60s when homemakers began to sell the containers at house parties known as "Tupperware parties." Tupperware wasn't sold in stores for the longest time because this sales plan worked so well, and it also contributed to the nostalgia of the product. It was not until 2022 that Tupperware finally became available at Target in an attempt to assimilate into the retail market. Yet, there are always cheaper options to be found on the shelves.

Tupperware best serves its customers when it lasts a long time and there's no need to constantly buy more. The containers can last even longer when you try the best ways to remove odors from your Tupperware, like rubbing it with baking soda or rinsing it out with lemon juice. After all, now may be a better time than ever to preserve the family Tupperware inventory.

Read the original article on Mashed.