Tupperware is preparing to file for bankruptcy protection, Bloomberg reports
Iconic company has struggled with competition
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Tupperware Brands Corp. is planning to file for bankruptcy protection, after the food-storage and kitchenware brand broke the terms of its debt following years of struggles with competition, Bloomberg reported on Monday.
Bloomberg, citing people familiar with the matter, said that Tupperware TUP had tapped legal and financial advisers and that a bid for court protection could come as soon as this week. However, the outlet said, the plans weren’t set in stone, and the company’s course of action could still change.