Who owns Tupperware and how long has it been around? Hilarious memes erupt as popular brand files for bankruptcy

The household goods manufacturer Tupperware filed for bankruptcy protection on Tuesday, September 17, in the US Bankruptcy Court for the District of Delaware. The company cited falling sales and skyrocketing losses in the filing.

As per The Times, the company listed estimated assets of $500 million to $1 billion and estimated liabilities of $1 billion to $10 billion, with a total of 50,001-100,000 creditors.

Tupperware was established by Earl Tupper in 1942, who introduced the goods to the public in 1946. The company has been around for the last 82 years.

The 1950s saw an explosion in Tupperware's popularity. Meanwhile, after the news of the bankruptcy went public, memes about the homeware brand began to circulate online.

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Tupperware is closing after serving for over eight decades

Women used to have Tupperware parties post-World War II. (Image via Graphic House/Archive Photos/Getty Images)

Earl Tupper established the company after he requested pure polyethylene pellets in 1938 from the chemical company DuPont to manufacture the products.

In 1946, he created his first product in Leominster, Massachusetts. The airtight polyethylene plastic containers with a unique "burping seal" were used in homes to store food.

As per the company, approximately 1.9 million direct sales representatives were working under them as of 2007. The homeware brand gained global popularity with Indonesia's sales exceeding $200 million and it overtook Germany as the leading Tupperware marketplace in 2013, according to the New York Times.

However, the company recently decided to file for Chapter 11 bankruptcy. Prior to this, the brand had been negotiating with lenders over its debt of nearly $700 million but it eventually broke the conditions of its debt which led to the bankruptcy filing.

According to The Guardian’s September 18 article, the company's president and CEO, Laurie Ann Goldman, said in a statement:

"Whether you are a dedicated member of our Tupperware team, sell, cook with, or simply love our 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.”

As per the same source, she further added that in recent years their financial position has been impacted by the challenging macroeconomic environment. As per the CEO, the brand aims to transform "into a digital-first, technology-led company better positioned to serve the stakeholders."

As per CBS News, the business has had trouble keeping up its sales momentum lately, which began following a small uptick during the Covid-19 pandemic. However, the post-pandemic spike in labor, freight, and raw material costs significantly reduced the company's profit margins.

Nevertheless, according to Fox News, the business stated in an April 2023 Securities and Exchange Commission filing that:

"The Company has concluded that there is substantial doubt about its ability to continue as a going concern for at least one year from the expected issuance date of its Form 10-K financial statements."

Prior to that, the business revealed its intentions to close its only plant in the United States and fire roughly 150 workers as of June 2024.

According to the letter, layoffs will start in September 2024 and the plant will eventually close in January 2025.