Tupperware Sells to Lenders for $23.5M Amid Bankruptcy

The iconic kitchen brand cancels its auction plans, opting for a lender takeover to alleviate its financial burdens.

Tupperware has agreed to a $23.5 million cash sale to a group of lenders, including Alden Global Capital, and will receive over $63 million in debt relief.
The sale agreement was announced at a bankruptcy court hearing in Wilmington, Delaware, and will require court approval to proceed.
Tupperware's lenders opposed previous auction plans, preferring to claim the company's assets directly through a debt exchange.
The deal allows lenders to acquire Tupperware's brand name and operations in key global markets, marking a potential turning point for the company.
Tupperware's new strategy focuses on a digital-first, technology-led approach while maintaining a global presence in core markets like the U.S., Canada, and Mexico.