Tupperware, known worldwide for its iconic plastic food storage containers, has filed for Chapter 11 bankruptcy. Years of declining sales, a failing business model, and a tough economy finally forced the company to file for Chapter 11 reorganization.
Why it Matters
Tupperware’s liabilities are estimated between $1 billion and $10 billion. Compare that to its assets of only $500 million to $1 billion. This bankruptcy process aims to help Tupperware reorganize, but what does that mean for those waiting to be paid?
By the Numbers
Here’s a snapshot of what Tupperware owes to its top 30 unsecured creditors:
| Creditor | Unsecured Claim Amount (USD) |
| CHANG TSI AND PARTNERS LIMITED | $1,213,191.20 |
| BDO USA, LLP | $1,067,204.15 |
| FTI CONSULTING TECHNOLOGY LLC | $659,467.50 |
| SADA SYSTEMS INC | $593,548.88 |
| FM POLSKA SP ZOO | $570,438.12 |
| ORACLE AMERICA INC | $550,000.00 |
| … | … |
| Total | $10,078,920.47 |
Why Unsecured Creditors Should Care
In a Chapter 11 case, unsecured creditors are often at the bottom of the payment list. Recovering anything can feel like a long shot. But that’s where a strategic partner, like Securitas Global Risk Solutions, can make a real difference.
How Securitas Global Risk Solutions Helps
- Reducing Risk: Securitas Global Risk Solutions specializes in trade credit insurance, which protects suppliers from non-payment risks.
- Improving Future Deals: Going forward, suppliers and vendors can protect themselves by using our services to insure future credit exposures. This way, if Tupperware (or any other customer) falters again, they won’t be left empty-handed.
- Expedited Claims Support: As experts, we help creditors understand and expedite insurance claims, maximizing their recoveries in non-payment scenarios.
The Path Forward for Tupperware
For Tupperware, Chapter 11 is a chance to reorganize, cut costs, and—hopefully—emerge as a more agile, tech-driven company. Laurie Ann Goldman, President and CEO, hopes the process will help the company “transform into a digital-first, technology-led company.”
But for unsecured creditors, that’s little comfort. They need protection now and in the future. Partnering with a reliable broker like Securitas Global Risk Solutions ensures that, even when the unexpected happens, they get paid.
Bottom Line
The Tupperware saga is a cautionary tale. As creditors navigate this complex bankruptcy, having the right protections in place isn’t just smart—it’s essential.
If you’re a supplier dealing with risky contracts, consider securing your payments through trade credit insurance from Securitas Global Risk Solutions. Because when companies go bust, you shouldn’t go down with them.
Since 2004, Securitas Global Risk Solutions, LLC (“Securitas”) has helped clients develop credit and political risk transfer solutions that provide value on numerous levels. As an independent trade credit and political risk insurance brokerage, Securitas is focused on developing comprehensive solutions that meet the needs of clients, ensuring a complete understanding of policy wording and delivering excellent responsive service.
