Tupperware, known for its line of plastic containers for food storage and preparation, has filed for bankruptcy.

“Tupperware Brands Corporation, an iconic global brand, today announced that the Company and certain of its subsidiaries have voluntarily initiated Chapter 11 proceedings in the United States Bankruptcy Court for the District of Delaware,” the company announced in a press release.

“Tupperware will seek Court approval to continue operating during the proceedings and remains focused on providing its customers with its award-winning, innovative products through Tupperware sales consultants, retail partners and online. The Company will also seek Court approval to facilitate a sale process for the business in order to protect its iconic brand and further advance Tupperware’s transformation into a digital-first, technology-led company,” it continued.

Tupperware has filed for bankruptcy. pic.twitter.com/kVJyZhy7EM

— Pop Base (@PopBase) September 18, 2024

“Whether you are a dedicated member of our Tupperware team, sell, cook with, or simply love our Tupperware products, you are a part of our Tupperware family. We plan to continue serving our valued customers with the high-quality products they love and trust throughout this process,” Laurie Ann Goldman, President and Chief Executive Officer of Tupperware, said.

“Over the last several years, the Company’s financial position has been severely impacted by the challenging macroeconomic environment. As a result, we explored numerous strategic options and determined this is the best path forward. This process is meant to provide us with essential flexibility as we pursue strategic alternatives to support our transformation into a digital-first, technology-led company better positioned to serve our stakeholders,” Goldman added.

Tupperware files for bankruptcy after struggle to compete with copycats

The 78-year-old company became a household name in the 1950s and ‘60s, but its patent only lasted for 20 years

Read more https://t.co/sZeep5tR1T pic.twitter.com/DQC9oTU9Ku

— The Telegraph (@Telegraph) September 18, 2024

Per CNN:

Tupperware has historically sold to consumers only through so-called direct sales, most commonly at “Tupperware parties,” similar to cosmetic company Avon’s business model, and only began selling in Target in 2022. The 78-year-old brand empowered women to enter the sales business.

“The party is over for Tupperware,” Susannah Streeter, head of money and markets at UK investment platform Hargreaves Lansdown, said in a note. “There is still a chance a buyer for the business can be found but, with plastic seen as far from fantastic among eco-aware consumers, revitalizing the brand will be an uphill struggle.”

Even though the brand was once a household name, it became less popular with younger consumers, in contrast with some of its competitors.

Tupperware rang the alarm bells in April 2023 when it disclosed in a regulatory filing that it could go out of business. The Florida-based company said at the time that, if it didn’t find more cash, it would no longer be able to fund its operations.

Food storage brand Tupperware filed for Chapter 11 bankruptcy protection this week. The company says its focus on direct sales, once a core strength, eventually became a weakness. https://t.co/Bk6PnLsARo

— Fast Company (@FastCompany) September 18, 2024

Tupperware files for bankruptcy in US and hunts for new owners https://t.co/aYULJVSgy8

— Guardian Money (@guardianmoney) September 18, 2024

Newsweek reports:

Tupperware’s troubles have not gone unnoticed by industry observers.

Last year, the company sought additional financing to keep afloat, warning investors that it risked being delisted from the New York Stock Exchange.

The warning proved prophetic—Tupperware’s stock has plummeted 75% this year, closing at around 50 cents per share on Tuesday, a sharp contrast to its former standing as an international powerhouse.

Despite the challenges, Tupperware remains committed to keeping the business alive. The company stated its intention to restructure and find a potential buyer to help it navigate through the bankruptcy process.

RELATED REPORT:

No, It’s Not Too Late To Get Gold (With No Money Out of Pocket)….But It Soon Will Be!

Today we saw one of the nastiest days on Wall Street in years….

Perhaps dating back to the last crash.

It was so ugly people have been texting me all day about it.

I guess that’s what happens when you’re the guy who’s been preaching about gold for the last year and some people didn’t listen.

Is this it?

Is this finally it?

Did I wait too long?

Did I miss out?

Those are the essence of the messages I received today.

But I wanted to share what I wrote back to a good friend (Mark) who texted me today and asked “Is the market finally crumbling?”

I wrote back the following:

I stand by that 100%.

There is almost ZERO history of a stock market crash ever happening in the summer.

Just doesn’t happen, don’t ask me why.

But they DO happen in the fall and winter.

Almost every time.

And I do believe one of the final cards they can play against President Trump if he wins (other than assassination, which failed) is crashing the economy on him.

Make it so bad and keep him so distracted by a crash BIGGER than the Great Depression that he can’t do anything else!

That makes a lot of sense, doesn’t it?

I think it’s exactly what they’re gonna do.

So was today the start of the crash?

No, I don’t think so.

I think it was just a little blip….a test balloon…..a warning signal.

Just a baby little blip on the radar!

The big one will come later, and it will make today look like child’s play.

That’s my take.

So are you too late to take action?

Too late to prepare?

Too late to apply some defense?

No, I don’t think so…but I think time is quickly running out.

It’s why I have been preaching so much about Gold and Silver and why I’ll continue to do so.

Simply put: GET YOUR MONEY OUT OF THE BANKS!

And out of the (trash) US Dollar!

Got Gold?

Got Silver?

The really cool thing is you might be able to get a TON of it for no money out of pocket.

Yes, really.

You see, if you have a retirement account, there’s a good chance you can shift a portion of that from risky stocks and bonds into Gold and Silver (Precious Metals)!

I’m not a financial advisor, so I can’t tell you what’s right for you, but if you think you can’t “afford” to get Gold right now, you might be absolutely wrong!

In fact, it’s might be “Free”.

Keep reading for details:

GET YOUR MONEY OUT OF THE BANKS!

But I am a reporter and what I see happening with the banking system scares me a lot.

The first thing that scares me about keeping dollars in a bank account is how they lose value year over year.

You know that right?

Think you’re being smart and “saving up”?

You’re literally losing money every year to inflation.

This perfectly sums it up:

This. pic.twitter.com/rvvuoYvE8i

— Declaration of Memes (@LibertyCappy) July 29, 2024

Yes, if you simply left $1 million in cash in the bank since 1913, do you know what it would be worth?

$40,000.

Your $1 million from 1913 would have the purchasing power in 2024 of $40,000.

Ouch!

But that’s not even what scares me the most….

What scares me is another round of bank closures like we had last year.

Here’s what’s happening in China right now:

BREAKING: 40 Chinese Banks Just Crashed and Vanished — “Worse Than 1980 S&L Crisis!”

Yes, that’s real.

And yes, I believe it comes here next.

But even if your bank is open, can you get the money out?

Have you ever tried?

Sure you have to leave some money in there, but you don’t want big amounts of money sitting in bank accounts.

Because you might never be able to get it out!

Go ahead, test me out on this…even right now in good times (before a full-blown banking crisis hits America) go to your bank right now and try and withdraw $10,000.  They will look at you with panicked looks on their face.  I guarantee it.  Then they’ll go get their supervisor.  The supervisor will come over and tell you they can’t do that today.  Come back in 2-3 days.  And then they’ll start the interrogation.  “What do you need this money for?”  “Where is this money going?”  Only after you answer all their questions, wait 2-3 days, fill out a bunch of paperwork, only then will you MAYBE be allowed to take YOUR money out of YOUR account.

I guarantee that’s how it will go for you….

Test me out!

Go try it and report back below in the comments.

So now the big question: Ok, what can YOU do about it?  

How do you prepare?

How do you make sure you and your family are not at risk when the banking crisis hits America (which I believe it will, very soon).

The answer is you do exactly what I’ve been preaching about for over a year now….get your money OUT of the banks!  (Not personalized financial advice, just common sense from where I sit).  That’s Step #1.

Hold firm, be determined, play their stupid games, and get your money out of the banks!

Because while YOU view it as your money in your bank account, that’s not how the bank views it.  The bank views it as their money.  And the dirty little secret is they LENT OUT your money to other people already.  Sometimes 9-10 times over!  It’s true, I’ll do a separate report soon on that explaining “fractional reserve banking”.

But Step #2 is the most critical….you don’t want to just get your money out of the banks, you want to get it out of the US Dollar.

The most basic and traditional financial wisdom has always viewed Precious Metals (Gold and Silver) as the safest places to have your money when a crisis hits.

So while I can’t give you personalized financial advice, I can tell you a couple things: (1) the Big Central Banks have all been buying Gold and Silver hand over fist for the last couple years.  Gee, I wonder why?  And (2) Gold and Silver have stood the test of time back to the Bible times as being the best store of wealth to weather out a storm in the economy.  Period.

And now Step #3 is where I’m going to make sure I don’t leave you hanging.

I have two killer connections for you…

Two companies that I trust for getting the best deals on Gold and Silver.  PHYSICAL Gold and Silver, the real stuff.  Not some phony symbol traded on some stock exchange that may or may not have actual Gold and Silver backing it up.  You want the real stuff.

And because I love the free market and competition, I have two great companies to recommend to you.  You can talk to both, see who you like better, and then take action!

The first is WLT Precious Metals ran by my friend Ira Bershatsky.

I have personally sent family members to Ira for 5-figure purchases of Gold and Silver and he treated them like royalty.  They were very pleased.

That’s how much I trust Ira.

I didn’t tell him I was sending them over either (and these particular family members have a different last name) so I did it as a bit of a “secret shopper” test and Ira passed with flying colors.

Of course I knew he would.

That’s why I work with him and that’s why I have confidence telling you about him.

Ira can handle bulk purchases of bullion, coins, whatever you want.

All custom ordered and shipped right to your door.

A lot of people love Bullion because its the cheapest and most economical way to do it, to stretch your dollar into as much gold and silver as possible.

The website is called WLT Precious Metals and when you see my logo in the top left-hand corner, you’ll know you’re in the right place.

You’ll get a personal phone call with Ira Bershatsky (or someone on his team) and they will work with you free of charge for as long as needed to answer any questions you have and get you taken care of.

How about that!

You don’t see that much anymore, but Ira and his team pride themselves on good old-fashioned real customers service:

No sales pitch, just real, actual help.

And the best prices you will find.

Here’s the only disclaimer I will give you: because they do pride themselves on dedicated service, it might take a few days before you get a phone call back.  Just be patient.

Good things come to those who wait!

You can contact Ira and WLT Precious Metals here.

Ira can also help you if you want to purchase Gold and Silver in your IRA.

I mean, his name is Ira, after all, OF COURSE he can help you purchase in your IRA account.

The thing I love about purchasing in your IRA account is you can do it with no money out of pocket.  You just take money already in the IRA account, perhaps in stocks or bonds or other investments, and you can shift it into Gold and Silver.

Again, I’m not your personalized financial advisor, I’m just explaining how it works.

And it’s REALLY cool.

So even if you’re saying times are tough right now, I don’t have a lot of spare money to shift into Gold and Silver, you might have a golden opportunity (pun intended!) already sitting there in an established retirement account.

Ok, that was option #1.

Now I want to tell you about option #2.

An equally great company, I am so happy to be working with these guys.

This next company is called Genesis Gold and this is also for people who want to purchase real physical gold or silver in their IRAs (Investment Retirement Accounts).

In addition to “no money out of pocket”, do you know what the beauty of that is?

TAX FREE baby!

I’m not a tax advisor, but that’s a general oversimplification.

Never pay more taxes than you are legally required to pay.

And that’s why I love getting gold and silver in my IRA (and why I hold a large chunk in an IRA myself!).

There’s so much to love about Genesis Gold, starting with the fact they are proudly and un-ashamedly Christina!

They call it “Faith-Driven Stewardship” and they put it right on the homepage of their website along with a quote from Ezekiel:

Here’s more on why gold and silver in your IRA are so powerful:

You can contact Genesis Gold here.

They are also very backed up with record demand, so you may have to wait a bit, but someone WILL get in touch with you for personal customer service and assistance!

Tell ’em Noah sent ya!

Oh, and did you know Genesis is recommended by SUPERMAN himself?

It’s true.

Superman himself, Clark Kent — Dean Cain — came on my show and we broke it all down:

Watch here:

Stay safe!

Be ready.

Be prepared.

Before you go, I have one more thing to show you….

This actually just came out and it’s super cool.

In addition to bullion, coins or even Gold and Silver in your IRA, this has a very specific purpose and it might be worth having some on hand:

Buy It — Break It — Trade It — New Silver “Invention” Has Never Been Done Before!

A new physical precious metals product launched that immediately caused a stir in the gold and silver industry. “Prepper Bar” is a utility bar that is perforated to allow owners the ability to break off pieces ranging from 1.5 grams up to 7.7 grams.

They fit nicely in one’s wallet so they can be carried around constantly.

“People have been asking me how we came up with the idea and I have to tell them that I can’t take credit,” said Jonathan Rose, CEO at Prepper Bar. “Over the years, our customers have been asking for something tradeable, portable, and spendable so we made Prepper Bar as the perfect accommodation.”

These 62 gram bars are flat and come in either silver or gold. The Silver Prepper Bar is available for immediate shipment while the Gold Prepper Bar will be available by the end of June.

We asked Rose what makes these bars so different from regular bars or coins.

“Gold and silver are great for holding wealth but you’d need a pretty sturdy hacksaw to shave off incremental chunks for sale or barter,” he said. “Prepper Bars are strong but they can be easily broken along the perforations so if we find ourselves in a pinch, we can break off the right amount, no problem.”

Check out the new Prepper Bars today!

How cool is this?

(Note: Thank you for supporting American businesses like the one presenting a sponsored message in this article and working with them through the links in this article which benefit WLTReport. We appreciate your support and the opportunity to tell you about Genesis Gold!  The information provided by WLTReport or any related communications is for generalized generalized informational purposes only and should not be considered as personal financial advice. We do not provide personalized investment, financial, or legal advice.) 

This is a Guest Post from our friends over at 100 Percent Fed Up.

View the original article here.