According to Reuters, on September 17th local time, well-known home goods company Tupperware Brands applied for bankruptcy protection in the Delaware court in the United States.
Almost everyone now knows what Tupperware is, but few know where to find it, "Tupperware Chief Restructuring Officer Brian Fox wrote in a document submitted to the court.
According to public information, the Tupperware brand was founded in 1946 and its products include fresh-keeping boxes, water bottles, water purifiers, etc. In 1995, Tebai Hui (China) Co., Ltd. was established in Guangzhou.
Reuters reported that in recent years, due to difficulties in launching more products into retail stores and online sales platforms, the sales of Tesco have significantly declined. Tupperware stated that the company has relied on independent sales representatives to sell its products in the past, but this strategy has failed to impress modern consumers.
According to the bankruptcy filing documents, Tupperware currently estimates its assets to be between $500 million and $1 billion, and its liabilities to be between $1 billion and $10 billion.
Tupperware stated that the company will seek to continue operating during bankruptcy proceedings and will continue to pay salaries and other payments to employees and suppliers.
According to its official mini program, TeBaihui products are still being sold normally, and the classic product leisure water cup is priced between 90 yuan and 160 yuan. During the Mid Autumn Festival holiday, the brand also launched "Favourite Powder Welfare" on Xiaohongshu, Tiktok and other platforms.
Image source: TeBai Hui official mini program
The news of Tupperware's bankruptcy has surprised many netizens, with some calling it the "tears of the times".
On the secondary market, Tebai Hui has fallen nearly 75% this year, with its latest stock price at $0.51 per share and a total market value of $23.73 million.
Source: Read and Create Finance
转播
