Few brands are so ubiquitous that they become synonymous with a product. But Tupperware is one of them. Because when you ask for leftovers, you probably say “Put it in some Tupperware,” even if the food storage container is not, in fact, Tupperware. But could those days be coming to an end?
Is Tupperware going out of business? The good news is that the brand hasn’t shuttered yet, but the bad news is that you might want to stock up on your favorites.
While Tupperware shuddering its doors isn’t true, the brand has made it known that it’s struggling financially. In an April 7 release, the brand explained that it was evaluating its capital structure to address concerns about its sustainability. The brand also released a notice that it could go into default if lenders request payment in exchange for access to Tupperware’s credit line.
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Essentially, things aren’t looking great for Tupperware. But all hope isn’t lost. The brand is looking for ways to get back on track according to the April 7 release. It could garner new lines of credit, seek new investors, and take other cost-cutting measures.
If you’ve been hearing that Tupperware is shutting down, that rumor isn’t true. However, it likely started due to the brand’s current financial position.
As for what that means for Tupperware lovers, not much right now. You can still shop the brand, but if it’s your go-to food storage container, now might be the time to stock up just in case.