Consumer
Tupperware Gets About Two Weeks to Use Cash Amid Spat
- Judge Shannon approves an order for temporary cash use
- Court will hear lenders’ objection, future cash use on Oct. 11
Tupperware filed for bankruptcy in mid-September after years of sales declines, operational stress, and recent failures in finding a buyer.
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Bankrupt Tupperware Brands Corp. was allowed to pay utility bills and workers for the next couple of weeks, but beyond that the path forward for the household food storage company remains uncertain.
US Bankruptcy Judge Brendan Linehan Shannon granted a so-called “bridge order” at a Wednesday hearing in Delaware, allowing the company to temporarily use cash under a budget until Oct. 11, when a final hearing will be held over disputes.