"Over the last several years, the Company's financial position has been severely impacted by the challenging macroeconomic environment," president and CEO Laurie Ann Goldman said, highlighting the difficult circumstances leading to their bankruptcy filing.
"As a result, we explored numerous strategic options and determined this is the best path forward," added Goldman, indicating that the bankruptcy was a considered decision in light of the company's struggles.
"We plan to continue serving our valued customers with the high-quality products they love and trust throughout this process," Goldman assured, emphasizing the company's commitment to its customer base even amid financial distress.
The filing mentioned Tupperware's significant financial struggles with assets between $500 million and $1 billion and liabilities between $1 billion and $10 billion, marking a serious liquidity crisis.
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