Court approves Tupperware’s sale to lenders, paving way for brand’s exit from bankruptcy

Quick Summary:

NEW YORK—A US bankruptcy judge approved a sale of Tupperware Brands on Tuesday, paving the way for the iconic food storage company to soon exit Chapter 11 protection and continue offering its products while undergoing a hoped-for revitalization.

Other closing conditions that must be met before the transaction is completed include an issue with a Swiss entity that still needs to be resolved, according to statements made in court Tuesday.

Tupperware agreed to the lender takeover last week, pivoting from a previously planned asset auction.

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Article Details

Author / Journalist: Wyatte Granthan-Philips | AP Business Writer

Category: BusinessStartups

Markets: PhilippinesBrazilCanadaChinaIndiaSouth KoreaMalaysiaMexico

Topics: Sales Tuesday Million Storage Food Company Brand Tupperware Products Sale Bankruptcy

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-01 @ 12:19:03 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 611 words

Reading Time: 4 minutes read

Sentences: 26 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 23364109

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