Tupperware May Be Going Out of Business Soon — Here’s Why

Tupperware’s airtight containers are a favorite for many. Whether you’re using them for storing leftovers after a big meal or keep them handy for  meal prep, the iconic brand has essentially stood the test of time in our kitchens. But as recent news suggests, fans of these storage staples may want to stock up while they still can because the company appears to be in trouble.

The brand known for keeping food safely sealed seemed like their own fate may be sealed after they shared the sobering news they had “substantial doubt” about their future as a company. This news led to a 48 percent drop in stock and mounting worry about what would come next.

While Tupperware saw a surge during the pandemic as more people were cooking at home and had food to save and store, now that more people are dining out and aren’t meal prepping or left with many leftovers, the brand has suffered. Between reports of debt and issues with errors and delays in their earnings report, things aren’t looking too great.

As the company noted in a press release this month, due “to the challenging internal and external business economics, coupled with the increased levels and cost of borrowings under its credit facility, the company currently forecasts that, if it is unable to obtain adequate capital resources or amendments to its credit agreement, it may not have adequate liquidity in the near term.”

While there’s still always the chance this 77-year-old household name will turn things around, it may be time to start exploring storage container alternatives (like these glass containers with bamboo lids!)  just in case. After all, we’ll need somewhere to store our family dinner leftovers!

Buy: Urban Green Glass Containers with Bamboo Lids, $36.99 (originally $39.99)