Tupperware Brands Corp. announced it will permanently close its Orlando, Florida headquarters and lay off 145 employees, effective December 31, 2024. The move follows its September bankruptcy filing and a tentative agreement with its lenders last month from which the company stated it would emerge as The New Tupperware Company.
Stonehill Capital Management Partners and Alden Global Capital are two of the investment firms within the lender group that acquired Tupperware, providing $23.5 million in cash and more than $63 million in debt relief.
The company, founded in 1946, announced it had entered into a forbearance agreement with its lenders in February of this year and a month later stated concerns about its ability to continue.
