Tupperware Brands Corporation (TUP)

Tupperware Brands (NYSE:TUP) has ditched plans to sell off its assets through an auction after reaching a rescue deal with a group of lenders on Tuesday. Lenders including Stonehill Capital Management Partners and Alden Global Capital will buy the kitchen products firm for US$23.5 million (£18.1 million) in cash and more than US$63 million in debt relief.

Bankrupt Tupperware Brands agreed on Tuesday to sell its business to a group of lenders for $23.5 million in cash and over $63 million in debt relief, canceling its plans for an open-market auction of its assets.

Tupperware Brands Corporation on Wednesday reached a short-term deal with lenders opposed to its bankruptcy strategy, restoring the food container maker's access to cash accounts and allowing it to meet employee payroll and other upcoming expenses.

We've also got a look at what's going on with Tupperware Brands and homebuilders.

Tupperware is a name that conjures nostalgia for many. Once a staple in every household, known for its airtight, brightly colored containers, the company enjoyed decades of success.

NEW YORK--(BUSINESS WIRE)--The New York Stock Exchange (“NYSE”, the “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the common stock of Tupperware Brands Corporation (the “Company”) — ticker symbol TUP — from the NYSE. Trading in the Company's common stock will be suspended immediately. NYSE Regulation reached its decision that the Company is no longer suitable for listing pursuant to NYSE Listed Company Manual Section 802.01D after.

Tupperware, founded in 1946, announced it will be filing for Chapter 11 bankruptcy. Transcript: Conway Gittens: Here's what we're watching on TheStreet today.

Tupperware, the maker of food storage containers, has filed for bankruptcy in the US.

Tupperware Brands Corporation (NYSE: TUP), owner of the iconic food storage brand Tupperware, has filed for Chapter 11 bankruptcy protection. The filing comes after years of financial struggles despite a pandemic boost when many were under lockdown orders, leading to an increase in people cooking at home.

Tupperware Brands filed for bankruptcy protection, months after the iconic American brand shut down its last remaining U.S.-based plant amid financial troubles.

Tupperware Brands, the iconic food-storage company known for its resealable plastic containers and pioneering direct-to-consumer sales, has filed for bankruptcy after years struggling with weak sales.

Tupperware Brands said on Tuesday that company and some of its subsidiaries have voluntarily initiated Chapter 11 proceedings in the United States Bankruptcy Court for the District of Delaware.

Company Intends to Continue Providing Customers with Award-Winning, Innovative Products through Tupperware Sales Consultants, Retail Partners and Online at Tupperware.com ORLANDO, Fla. , Sept. 17, 2024 /PRNewswire/ -- Tupperware Brands Corporation ("Tupperware" or the "Company") (NYSE: TUP), 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 "Court").

Tupperware Brands (TUP) plans to file for bankruptcy as early as this week, according to a Bloomberg report citing people familiar with the company.

Tupperware Brands Corp. is planning to file for bankruptcy protection, after the food-storage and kitchenware brand broke the terms of its debt following years of struggles with competition, Bloomberg reported on Monday.

The bankruptcy preparations follow protracted negotiations between the home-goods company and its lenders over how to manage more than $700 million in debt, Bloomberg News reported.