Tupperware files Chapter 11 bankruptcy
Sept. 17 filed for Chapter 11 bankruptcy protection.
Court filings show the company has about $680 million in assets and $1.2 billion in debt.
Sources claimed the filing would be made in Orlando's U.S. Bankruptcy Court for the Middle District of Florida rather than outside the state, but lead counsel is Patrick J. Reilley of Cole Schotz PC of Boca Raton filed in Delaware.
In a news release, President and CEO Laurie Ann Goldman said the company explored numerous options before deciding to file. “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."
