The American food container manufacturer Tupperware has now gone bankrupt in Austria. Non-self-management restructuring proceedings were filed with the Vienna Commercial Court. About 16 employees of Tupperware Österreich GmbH, based in Vienna, are affected.
Shortly after the US parent company had to file for bankruptcy, the Austrian subsidiary, located in the 23rd district of Vienna, has now also gone bankrupt, the credit protection associations Creditreform, AKV and KSV1870 report in unison.
Continuation of the business planned
A continuation is planned; creditors receive a quota of 20 percent. The debts should be around ten million euros.
Parent company has disputes with major creditors
A restructuring manager has yet to be appointed. The reason for the bankruptcy is the bankruptcy of the parent company in the US. This was again due to disputes with major creditors, it was said in September. Founded in 1946, the company grew up with “Tupper Parties,” where sales consultants privately tout the plastic containers and other kitchen items in their communities. Tupperware only started selling products online in 2022 – too late, according to retail experts.
Active in 41 countries
Tupperware has 5,450 employees in 41 countries. There are also approximately 465,000 independent sales consultants. The company was founded in 1938 by Earl Tupper.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
