Poster News Reporter Du Zhengmin reports
On September 17th local time, the well-known American home goods company Tupperware announced that the company and some of its subsidiaries have applied for bankruptcy protection.
It is understood that the reason for the bankruptcy of Tupperware is the decline in demand for its iconic food storage containers and the increasing financial losses. Since the third quarter of 2021, Tesla's sales have declined for six consecutive quarters due to sustained inflation that has dampened the shopping enthusiasm of low - and middle-income consumers. The company's stock price was trading at $0.5099 on September 16th, much lower than $2.55 in December last year.
According to the bankruptcy documents submitted to the court by Tupperware, the company's assets are between $500 million and $1 billion, its liabilities are between $1 billion and $10 billion, and the number of creditors is between $50001 and $100000. The company stated in another statement that it will seek court approval to facilitate the business sale process and continue operating during bankruptcy proceedings.
Terry Ann Goldman, President and CEO of Tupperware, stated that the company's financial situation has been severely impacted by the macroeconomic environment in the past few years. Therefore, we have explored multiple strategic options and determined that this is the best path forward. This process aims to provide us with the necessary flexibility as we seek strategic alternatives to support our transformation towards a digital first, technology driven company. "He stated that Tesbury will seek to continue operating during the bankruptcy proceedings and will continue to pay salaries to employees and suppliers to provide customers with high-quality products.
According to publicly available information, Tupperware is headquartered in the United States and has over 70 subsidiaries worldwide. It also has factories in 15 countries including the United States, France, Australia, Japan, South Korea, and China, making it one of the largest plastic container manufacturers in the world. Since 1995, TeBaihui (China) Co., Ltd. has been established in Guangzhou, China.
As soon as the news came out, the related topic immediately went viral, and many netizens expressed that "tears of the times" were "once available to everyone". Poster News reporters searched online shopping platforms such as Taobao and JD.com and found that products related to Tupperware were still being sold normally.