Tupperware news and press releases
Company announcements, direct sales updates and archived press coverage for Tupperware.
Tupperware news archive
Bankruptcy Court Approves Tupperware Sale to Lenders for 23.5 Million Cash Plus Debt Relief
NEW YORK, October 29, 2024 -- A U.S. bankruptcy judge in Delaware approved Tupperware Brands' proposal to sell assets to its lenders, clearing a path for the housewares company to exit Chapter 11 with most operations intact. Under the deal, a lender group including Stonehill Capital Management and...
Tupperware Cancels Asset Auction and Agrees to Sell Business to Lender Group
Bankrupt Tupperware Brands agreed on October 22, 2024, to sell its business to a group of its lenders, canceling plans for an open-market auction of its assets, according to court proceedings in Wilmington, Delaware. The lender group later identified as Party Products LLC, backed by Stonehill...
NYSE Suspends Tupperware Trading and Moves to Delist After Bankruptcy Filing
Tupperware Brands Corporation disclosed that NYSE Regulation notified it on September 18, 2024 that it would begin proceedings to delist the company's common stock and was suspending trading immediately. The exchange found the company no longer suitable for listing under Section 802.01D of the NYSE...
Tupperware Lenders Seek to Dismiss Bankruptcy, Cut Off Cash in Push to Take Control
Tupperware's key lenders opposed the company's proposed bankruptcy auction at its first court hearing, cutting off its access to about 7.4 million dollars in bank accounts and moving to dismiss the Chapter 11 case or convert it to a Chapter 7 liquidation. The lender group, Alden Global Capital...
Tupperware Files for Chapter 11 Bankruptcy, Seeks Court-Supervised Sale
ORLANDO, Fla., September 17, 2024 -- Tupperware Brands Corporation and certain subsidiaries filed voluntary Chapter 11 petitions in the U.S. Bankruptcy Court for the District of Delaware. The company plans to keep operating during the case and will ask the court to approve a sale process for the...
Tupperware Takes 8 Million Bridge Loan at 14 Percent and Misses Second Quarter Filing Deadline
Tupperware Brands Corporation disclosed that on August 12, 2024 it entered into a senior secured bridge loan facility of up to 8 million dollars, drawing 4 million dollars immediately, with the remaining 4 million dollars available only at the lenders' discretion. The loans carry 14 percent annual...
Tupperware Wins Forbearance Extension to August 15, Must Deliver Repayment LOIs by July 31
Tupperware Brands Corporation said that on July 12, 2024 it signed a Second Amendment to Forbearance Agreement with lenders under its 2021 credit agreement, giving the struggling housewares company more time to meet repayment milestones. The amendment extends both the compliance period for the...
Tupperware CFO Mariela Matute Resigns as Lenders Extend Forbearance to July 14
Tupperware Brands Corporation disclosed that Executive Vice President and Chief Financial Officer Mariela Matute told the company on July 5, 2024 that she would resign, effective July 31, 2024. The company said her decision did not stem from any disagreement over its operations, policies or...
Tupperware Extends Lender Forbearance Termination Date to July 7
Tupperware Brands Corporation disclosed that on June 28, 2024 it again amended its forbearance agreement with Wells Fargo Bank, as administrative agent, and certain lenders, extending the forbearance termination date from June 30, 2024 to July 7, 2024 at 11:59 p.m. Eastern time. The administrative...
Tupperware Amends Lender Forbearance, Extends Repayment Milestone to June 22
Tupperware Brands Corporation disclosed that on June 3, 2024 it entered an amendment to its February 13, 2024 forbearance agreement with Wells Fargo Bank, as administrative agent, and certain lenders under its credit agreement. The amendment extended the milestone for entering a definitive...