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Insolvency at Tupperware Austria: License not renewed, crisis looming!
Tupperware Austria files for bankruptcy as licenses expire. Creditreform warns of a low creditor ratio in the event of liquidation.
Insolvency at Tupperware Austria: License not renewed, crisis looming!
Tupperware Austria is on the brink: The turbulent history of a once popular manufacturer of food storage containers could now finally come to an end. On January 9, 2025, it became known that the company had no prospect of continuing its business due to the expiration of licenses from the parent company in the USA. Creditreform, the creditor protectors, estimate the debts registered to date at 9.3 million euros, with around 3 million euros being disputed. The desired restructuring plan, which should be voted on on Thursday, is therefore up in the air, as is the case crown reported.
The licensing drama
The license to distribute Tupperware products in Austria expired on January 8, 2025, and instead of an extension, the company is now forced to cease all sales activities. According to Stephan Mazal from Creditreform, there were intensive negotiations about the license extension, but without success. “As of today, Tupperware products are no longer allowed to be sold,” said Mazal. Tupperware Österreich GesmbH had already filed for bankruptcy in October 2024 and employed around 16 people with a positive business operation that had monthly sales of up to 670,000 euros. But without a functioning license, the signs point to liquidation, which means that creditors could be faced with a quota of less than 20 percent, as reported.
The company's international connections result in a complex situation: the parent company in the USA was on the way to Chapter 11 proceedings in November 2024, but this was rejected. A sale to an investor was able to save the US operations, but the European business remains without a solution. Like from courier As highlighted, the overall European strategy after the license expires is unclear, leading to uncertainty about the future of Tupperware Austria. While the creditor is not encouraging optimism, hopes of a possible return to the market remain distant.