American Tupperware goes bankrupt. The legendary food container manufacturer launched bankruptcy proceedings on Wednesday, September 18, 2024. The final step in a long path of suffering.
Tupperware faces ‘difficult environment’
“For several years, the company has been facing a difficult environment”said in a statement relayed by theAgence France Presse Laurie Ann Goldman, the CEO of the company, who filed for Chapter 11 bankruptcy protection.
“Therefore we explored several strategic options and estimated” that placing oneself under the bankruptcy protection law was “the best way out”because she should “bring us essential flexibility” to the digital and technological transformation of our society, explains the CEO in the bankruptcy proceedings documents.
In mid-August, the group explained that it was still doing “facing significant liquidity problems” and have “doubts about his ability to continue his activity”.
Missed turning points
As explained West France in 2023, these difficulties are linked, among other things, to the evolution of the market, driven by e-commerce, which Tupperware turned to too late. The brand has also suffered from its un-ecological image, faced with competitors producing containers deemed more compatible with the protection of nature.
“The problem is that society has not opened its eyes quickly enough to the fact that people no longer want plastic. Despite more eco-responsible containers, the brand’s image remains associated with this material.”recalled Jérôme Freytag, strategy consultant and direct sales specialist.
