Bankrupt Tupperware company for sale..!?

Sowmiya Sriram
Bankrupt Tupperware company for sale..!?
Tupperware has agreed to sell its entire business for Rs 198 crore. Tupperware is a world-renowned brand based in the United States. We can find Tupperware containers in most homes. Tupperware, which became popular by selling products has now gone bankrupt. Nowadays Tupperware company has lost a lot of its income due to the increasing awareness among people that the use of plastic is harmful to the body. As a result, the company has gone into bankruptcy, and the company, which is headquartered in Florida, has suffered huge commercial losses.
 As a result, the company declared bankruptcy last month. Tupperware's stock also saw a steep decline. After this, the financial institutions that had given loans to this company began to suffer, so an application regarding bankruptcy proceedings was filed in the court. It was said that the company would be auctioned to cover the debts. But Tupperware has announced that it is not ready to bid and is ready to sell outright for Rs 193 crore. Tupperware currently has $818 million in debt. Therefore they had planned to auction the company and collect the loan amount. But Tupperware did not agree to that and instead said it would sell directly. It is reported that the buyers of the company may continue to operate under the Tupperware brand name. Tupperware has announced that they will be shutting down their overseas operations as soon as possible. In the meantime, it has been reported that some lending companies are jointly planning to take over Tupperware. With this, it seems that these joint ventures have decided to sell Tupperware company products through wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW">digital platforms and restructure the company's debts. Lenders Stone Hill capital Management Partners and All Time Global capital have confirmed their intention to buy Tupperware.
For more interesting updates click and follow Indiaherald WhatsApp channel

Find Out More:

tupperware

Related Articles: