Tupperware business to re-emerge under new ownership
A group of lenders have acquired certain assets of Tupperware to help the kitchenware brand emerge from bankruptcy.
Party Products, a company formed by the lenders, has bought the global rights to the Tupperware brand name, related intellectual property, and its operations in core markets.
Party Products said it will initially focus on operating Tupperware in certain core markets, which include the US, Canada, Mexico, Brazil, China, Korea, India and Malaysia according to previous plans.
Customers in these countries will continue to purchase products from Tupperware e-commerce sites, independent sales consultants, and retail partners.
Founded in 1946 by Earl Tupper, Tupperware is known for its problem-solving kitchen and home products. The company witnessed a surge in sales during the Covid-19 pandemic but lost its momentum as the world reopened.
The firm filed for Chapter 11 bankruptcy protection in September after breaching the terms of its debt.
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