Reported 18 days ago
Tupperware's recent bankruptcy filings have resulted in a significant disruption for its 465,000 door-to-door contractors, as the company is currently unable to pay $1.4 million in accrued commissions due to a conflict with its lenders, including Bank of America. The company, facing over $800 million in debt and limited cash reserves, may be forced out of bankruptcy if the lenders succeed in their aggressive legal strategy, curbing Tupperware's revival efforts and potentially leading to a quick foreclosure.
Source: YAHOO