STORY: Tupperware - whose iconic plastic food containers once filled millions of American kitchens - has filed for Chapter 11 bankruptcy protection.

The move comes after several years of falling sales and failed turnaround efforts...

as demand slipped due to rivals making cheaper and more environmentally friendly containers.

The company said it will now chart out a sale process for the business.

By doing so, it has likely sealed the fate of the so-called Tupperware Lady...

the nickname given to a generation of post-war housewives, seeking empowerment, who sold the plastic products at in-home gatherings known as "Tupperware parties."

The company enjoyed a brief resurgence during the pandemic as more Americans cooked at home amid travel curbs.

But - after some wild swings during the "meme stock" rallies of that period - shares of Tupperware ultimately slumped in 2023, as it delayed annual reports and breached its credit obligations.