US brand Tupperware has filed for bankruptcy as it struggles to survive in the face of sliding sales.
The food storage container firm said it will ask for court permission to start a sale of the business and that it aimed to continue operating.
The 78-year-old firm has become so synonymous with food storage that many people use its name when referring to any old plastic container.
Despite attempts to freshen up its products in recent years and reposition itself to a younger audience, it has failed to stand out from competitors.
It’s all intentional. Tupperware, just like Red Lobster, Toys R Us, and every other high profile corporate bankruptcy where you just go “what were they thinking?”.
They were taken over by Boston Consulting Group, stripped for parts (any remaining $), stole the land, and rolled the debt into bankruptcy.
It’s so extreme it sounds like some shadowy cnspiracy but this is all public, verifiable information. All these companies either directly brought in BCG or their executive teams were BCG plants.
Welcome to the efficient market of capitalism.