Tupperware Secures Court Approval for Lender Sale to Exit Bankruptcy

The iconic brand aims for revitalization with a new ownership structure and strategic focus.

Tupperware Brands will be sold to a group of lenders for $23.5 million in cash and more than $63 million in debt relief, following court approval.
The sale is intended to lift Tupperware from Chapter 11 bankruptcy protection, allowing it to continue operations and rebrand as The New Tupperware Co.
The company plans to maintain its presence in core markets including the U.S., Canada, and major Asian and Latin American countries.
Tupperware will shift towards a 'digital-first, technology-led and asset-light' business model to adapt to changing consumer preferences.
The lender group acquiring Tupperware includes Stonehill Capital Management and Alden Global Capital, which had acquired the company's debt at a discount.