Reported about 1 month ago
Tupperware Brands has agreed to sell its business to a group of lenders for $23.5 million and over $63 million in debt relief, canceling its planned auction of assets. This decision was announced during a bankruptcy court hearing in Delaware, as Tupperware seeks to navigate its financial difficulties after filing for bankruptcy with $818 million in debt. The lenders will acquire the brand and operations in key markets, focusing initially on North America, Asia, and gradually moving to European and other Asian markets while winding down operations in areas with heavy liabilities.
Source: YAHOO