Consumer
Tupperware Lenders Fight Over Assets, Including Brand Name
- Historic brand the target of aggressive debt investors
- The company may be worth a fraction of what it owes lenders
Tupperware Brands Corp. filed for Chapter 11 protection on Tuesday in Wilmington, Delaware.
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Until Tuesday, Tupperware had been a familiar, but fading, American brand, synonymous with storing leftovers in the fridge. Now, the name Tupperware itself stands to grow even more stale as lenders fight each other and the company in bankruptcy court.
Tupperware Brands Corp. filed for Chapter 11 protection on Tuesday in Wilmington, Delaware. The company plans to sell itself while still operating, according to court filings. In the meantime lenders owed about $800 million are arguing over assets, one of which is the precious Tupperware brand.