Tupperware Lenders Fight Over Assets, Including Brand Name [BNN Bloomberg (Canada)]
Tupperware Brands Corporation (TUP)
Last tupperware brands corporation earnings: 10/30 07:00 am
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Source: BNN Bloomberg
Tupperware Brands Corp. filed for Chapter 11 protection on Tuesday in Wilmington, Delaware. The company plans to sell itself while still operating, according to court filings. In the meantime lenders owed about $800 million are arguing over assets, one of which is the precious Tupperware brand. Among other issues being hashed out is whether Tupperware should even try to restructure itself, or if a group of aggressive distressed-debt investors should simply foreclose on the brand, its inventory and other assets. “Facing ever more urgent liquidity needs and continued operational stress, the company restarted marketing efforts for the third time after the July 4 weekend,” Chief Restructuring Officer Brian J. Fox said in court papers. Tupperware's business problems are not new, but have taken on new life in bankruptcy court as familiar distressed lenders including Stonehill Institutional Partners and Alden Global Capital have gotten involved. Its revenue has been in a downward sp
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News
- Tupperware Lenders Fight Over Assets, Including Brand Name [Yahoo! Finance]Yahoo! Finance
- Tupperware Files for Bankruptcy After Struggling With Weak Sales [Yahoo! Finance]Yahoo! Finance
- Tupperware files for Chapter 11 bankruptcy [Yahoo! Finance]Yahoo! Finance
- Tupperware Seeks Bankruptcy Protection As Demand For Its Colorful Containers Fades In The E-Commerce Era [Yahoo! Finance]Yahoo! Finance
- Iconic Tupperware Brands seeks Chapter 11 bankruptcy [Financial Post (Toronto, Ontario, Canada)]Financial Post