According to CCTV Finance, CNN and other media reports, on the 17th local time, the American home goods company, Tupperware, announced that it has applied for bankruptcy protection.
According to relevant documents, the company's assets are estimated to be between $500 million and $1 billion, and its liabilities are estimated to be between $1 billion and $10 billion. The CEO of Tupperware has issued a statement stating that the company's financial situation has been severely affected by the macroeconomic environment in the past few years.
The statement also stated that the company will seek to continue operating during bankruptcy proceedings and will continue to pay salaries to employees and suppliers to provide customers with high-quality products.
In June of this year, Tupperware announced that it would permanently close its factory in South Carolina and also announced the layoff of hundreds of employees. It is reported that since the beginning of this year, the stock price of Tupperware has fallen by a cumulative 74.5%.
Public information shows that Tupperware, headquartered in the United States, is one of the world's largest manufacturers of plastic containers for freshness preservation. As soon as the news came out, the related topic immediately topped the Weibo hot search list.
According to a report by Reuters cited by China News Service, the reason for the bankruptcy of Tesco is the decline in demand for its iconic food storage containers and 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.
Tupperware specializes in kitchenware and household items, founded by American chemist Ill Tupperware in 1942. Tupperware's products were once popular in the market and can be regarded as the "pioneer of internet celebrities" in the water cup industry. They even entered Buckingham Palace and were favored by the British royal family. Not only is it a water cup internet celebrity, but also the pioneer of the "direct sales circle", rapidly expanding under the empowerment of the direct sales system. The company has over 70 subsidiaries worldwide and also entered China in 1995.
The news of Tupperware's bankruptcy has surprised many netizens, with some calling it the "tears of the times".
On the morning of September 19th, a reporter from the Daily Economic News noticed that the Tmall flagship store of Taobao was still live streaming sales, and the best-selling Tea Rhyme Heart Cup had more than 30000 people paying for it. The reporter from the Daily Economic News asked if the customer service representative of the store, Tupperware, is operating normally? The staff replied, "The online store's sales and operations are normal, and all orders can still receive high-quality products and services
The staff also stated, "It is bankruptcy protection. Bankruptcy and bankruptcy protection are completely different concepts in law, and the main difference is whether they can continue to operate. Companies that declare bankruptcy must immediately cease all business and enter bankruptcy liquidation procedures, while companies that apply for bankruptcy protection can continue to operate their own businesses in order to strive for restructuring or profitability to avoid bankruptcy." The reporter also asked the live broadcast anchor who was broadcasting, and the anchor also stated that their operations were not affected.
Daily Economic News Comprehensive CCTV Finance, China News Network, and Meijingwang (Reporters: Ding Zhouyang, Wang Fan)