According to Reuters, on September 17th local time, US home goods company Tupperware issued a statement stating that it has applied for bankruptcy protection.
According to the bankruptcy documents submitted to the court by Tupperware, the company's assets range from $500 million to $1 billion, and its liabilities range from $1 billion to $10 billion.
The company stated in another statement that it will seek court approval to facilitate the business sale process and continue operating during bankruptcy proceedings.
The CEO of Xtreme stated in a press release that the company's financial situation has been severely affected by the macroeconomic environment in the past few years.
Source: CCTV News