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Podcast: γ¬γ’γΈγ§γθ±δΌθ©± Daily News Article Podcast
Episode: Tupperware lifts the lid on its financial problems with bankruptcy filing
Description: Tupperware Brands Corp., the Orlando, Florida-based consumer goods company that produces the iconic line of containers, said it was seeking Chapter 11 bankruptcy protection after struggling to revitalize its core business and failing to secure a tenable takeover offer.
Despite enjoying the same cultural ubiquity as Kleenex, Teflon, and other brands whose trademarked names are eponymous with entire product categories, Tupperware has suffered from waning sales, rising competition, and the limitations of the direct-to-consumer marketing model that once defined its success.
The company said in its bankruptcy filing that consumers are shifting away from direct sales, which make up the vast...