Iconic kitchenware company Tupperware is going under making this longtime U.S. company just another victim of Bidenomics.
Per the Associated Press:
Tupperware Brands, the company that revolutionized food storage decades ago, has filed for Chapter 11 bankruptcy protection.
The company plans to continue operating and will seek court approval for a sale, it said just before midnight on Tuesday.
The company is seeking bankruptcy protection amid growing struggles to revitalize its business. Tupperware sales growth improved during the early days of the COVID-19 pandemic, but overall sales have been in steady decline since 2018 due to rising competition. And financial troubles have continued to pile up for the Orlando, Florida, company.
Doubts around Tupperware’s future have floated around for some time. Last year, the company sought additional financing as it warned investors about its ability to stay in business and its risk of being delisted from the New York Stock Exchange.
Tupperware was founded in 1948 but four years of Bidenomics sunk them.
Biden has been destroying American companies by the thousands since we were unfortunate enough to see him enter the White House.
And if Kamala Harris follows him into the presidency, we will see thousands more U.S. companies disappearing into bankruptcy.
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