Tupperware on brink of bankruptcy with $1 billion debt

[Pelican Press 0]

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Tupperware on brink of bankruptcy with $1 billion debt

Tupperware is preparing to file for bankruptcy as soon as this week, according to people with knowledge of the plans, following a years-long effort to revive the business amid waning demand.

The brand, which has for much of a century defined food storage, is planning to enter court protection after it breached the terms of its debt and enlisted legal and financial advisers, said the people, who requested anonymity to discuss confidential information.

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