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Market
Will Tupperware obtain court approval for a sale by December 31, 2024?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Official court records or press releases from Tupperware Brands
Story
Tupperware Files for Chapter 11 Bankruptcy in Delaware Amid Declining Sales
Sep 18, 2024, 10:24 AM
Tupperware Brands has filed for Chapter 11 bankruptcy in the United States Bankruptcy Court for the District of Delaware. The company, known for its iconic plastic food storage containers, has been struggling with declining sales and growing competition for several years. Tupperware listed assets between $500 million to $1 billion and liabilities ranging from $1 billion to $10 billion. The company plans to continue operations during the bankruptcy proceedings and will seek court approval for a sale to protect its brand. CEO Laurie Ann Goldman cited the challenging macroeconomic environment as a significant factor impacting the company's financial position. Tupperware's shares have plummeted, losing 57.5% of their value to just 51 cents a share.
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Similar markets
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Acquired by another company • 25%
Reorganizes and continues operations independently • 25%
Liquidates assets • 25%
Other • 25%
Company is sold • 25%
Company is restructured and continues operations independently • 25%
Company is liquidated • 25%
Other • 25%
Private Equity Firm • 25%
Competitor in the same industry • 25%
Technology company • 25%
Other • 25%
Private Equity Firm • 25%
Competitor in the same industry • 25%
Diversified Conglomerate • 25%
Other • 25%