In a press release, the company cited "macroeconomic challenges" as the reason for the filing, and is asking for court approval to continue operations during the proceedings.
Founded in 1942 by Earl Tupper, Tupperware was, at one time, a revolutionary business model. It offered women the opportunity to make their own money via the "party model."
Most people who engage in a multi-level marketing business won't ever turn a profit, but that didn't stop Tupperware from recruiting more than 3 million "independent consultants".
Anyone who grew up in the '80s or '90s probably remembers their mom attending - or hosting - a Tupperware party, making it a staple in American kitchens.
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