The iconic brand of airtight containers, in other words lunch boxes, in other words ‘Tápers’ Tupperware has declared bankruptcy. According to the publication, it is now reaching the end of its decline after revolutionizing home food preservation. Barron’s.

Why is it important?. Tupperware has been the king and metonym of plastic containers in millions of homes for decades. Its decline is a reflection of changes in consumer habits, the perceived value of the product category, and its poor health. timing for the plastics industry.

What happenedThe company has declared bankruptcy in the US. It will now seek court approval to sell the business and continue operating until that time comes.

Its shares fell more than 50% last week and have been falling for a decade, with a brief recovery. The company has been facing bankruptcy for more than a year.

contextTupperware was founded in 1946, just after World War II, and combined its innovative approach to airtight containers with ‘Tupperware lots’ for direct sale.

In recent years, it has been trapped by changes in a market to which it has failed to adapt. Its assets, of between $500 million and $1,000 million, are far less than its liabilities, estimated at between $1,000 million and $10,000 million.

Reasons.Accordingly BBC:

• Changes in consumer habits.
• Greater environmental awareness and rejection of plastic.
• Competition from cheap brands.
• Failing to modernize your business model.
• Increase in raw material and transportation costs.

Although the pandemic caused a recovery in sales, the return to normal brought back the downward trend for the company.

in detail. Even the most iconic brands can fall if they don’t adapt in time. Tupperware was known as a leader in its business for decades, but as time went by, this led to a long decline.

Featured image | Tupperware

At Xataka | Under certain parameters, using tupperware can be worse for the environment than disposable containers.