Continuation planned
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The US fresh food can manufacturer Tupperware is now also insolvent in Austria. Reorganization proceedings without self-administration have been applied for at the Vienna Commercial Court. Around 16 employees of Tupperware Österreich GmbH, based in Vienna, are affected.
Shortly after the parent company from the USA had to file for insolvency, the Austrian subsidiary, which is located in the 23rd district of Vienna, is now also insolvent, reported the credit protection associations Creditreform, AKV and KSV1870 in unison.
Continuation of the company planned
A continuation of the company is planned, with creditors receiving a quota of 20 percent. Liabilities are expected to amount to a good ten million euros.
Parent company has disputes with major creditors
A restructuring administrator has yet to be appointed. The reason for the insolvency is said to be the insolvency of the parent company in the USA. This in turn was due to disputes with major creditors, it was reported in September. Founded in 1946, the company grew up with "Tupperware parties", where sales advisors promote the plastic containers and other kitchen items in their community in private settings. Tupperware only started selling products online in 2022 - too late, according to retail experts.
Active in 41 countries
Tupperware has 5450 employees in 41 countries. There are also around 465,000 independent sales consultants. The company was founded in 1938 by Earl Tupper.
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