'Tupperware' on the brink of bankruptcy..!?

Sowmiya Sriram
'Tupperware' on the brink of bankruptcy..!?
It is said that Tupperware is a company that provides quality plastic goods even though the cost is high. It is known that this American company is popular not only in that country but also in many countries. A company that has been a beacon of light for several decades has now seen a new light on the brink of bankruptcy. This shocking incident has now become a hot topic. Although there are many companies that manufacture plastic items, Tupperware is known as the company that manufactures the best plastic items for food storage along with quality. The company that created a revolution in the manufacture of plastic boxes, is in financial difficulties. The leading media company Bloomberg revealed the information that it is close to bankruptcy. With this information, the company's shares in New York lost more than fifty percent.
Founded in 1946 by chemical scientist Earl Tupper, the company became very popular in the 1950s. Good sales have been going on even in the time of Corona. However after that, the sales declined and besides this, the company is planning to go to court for violating the loan conditions. It is said that the big question facing the company is how to manage the debt which is more than 700 million dollars. In addition to cost reduction in the company, considering the financial balance, the field has recently been prepared to lay off 150 people. In addition to this, even after making many decisions, the company is unable to stop its down-following.

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