Aalst (The Brussels Morning Newspaper): Tupperware Brands Corp, started by Earl Tupper in 1946, has filed for bankruptcy with over $700 million in debt. CEO Laurie Ann Goldman is looking for new owners and changes to help the company.
Tupperware’s main office in the U.S. has filed for bankruptcy because it is facing serious money problems, including a large debt of about $700 million. This has affected Tupperware’s factory in Aalst, Belgium, where some of the 240 workers have been put on temporary unemployment because the company’s financial situation is uncertain.
What steps is Tupperware taking to address bankruptcy and protect Aalst’s jobs?
In response to the situation, Tupperware’s management met with union representatives to discuss the worries of the workers. During the meeting, employees were given more information about the company’s financial problems and how it might affect their jobs. The unions are actively involved to help protect the rights and interests of the workers as things develop.
According to the unions, the Tupperware factory in Aalst will keep running even though the company is facing money problems and the U.S. headquarters has filed for bankruptcy. About 40 employees are still working at the factory, while the other 240 workers are at home because of temporary unemployment. The main focus is on selling the stock in the warehouse instead of starting production again. This means there are no plans to resume making products at the Aalst factory soon. The management and unions are working together to handle the situation, and selling the stock is important to keep some operations going during this uncertain time.
It has been said that workers will keep getting paid because a loan has been given to cover wages. The company is also safe from creditors in the U.S. for the next 120 days. There’s a lot of uncertainty about Tupperware’s future in Aalst, but they are making a recovery plan in the U.S. They might look for a buyer and focus more on online sales. Tupperware has been making plastic containers and kitchen items since 1946.
