By Andrea Hargraves 
Tupperware is a world-famous company that produces plastic containers of the same name, It will be on the verge of declaring bankruptcy and seeking legal support, given the endless decline in sales the company is suffering from.According to information provided by Bloomberg.
The famous company, which has already negotiated with its creditors this year, has done so. $700 million in debt It plans to go into court protection after breaching the terms of its debts and seeking legal and financial advisers, people familiar with the matter told Bloomberg. In the past five days, the company's shares have fallen by more than 50%.
In March, Tupperware had already warned that its liquidity had reached record lows. Any complication could have serious repercussions for the world's most famous plastic packaging manufacturer.
In June, it planned to close its only U.S. factory and lay off about 150 employees. Last year, the company replaced its CEO and several board members as part of a corporate shakeup, naming Lori Ann Goldman as its new CEO, but The result of this restructuring was not the desired one.
In 1946, Tupperware introduced its plastic products to the world.After nearly 80 years, it could collapse.