Tupperware Brands filed for bankruptcy protection in Delaware late on Tuesday, succumbing to mounting losses due to poor demand for its once popular colorful food storage containers.
Its popularity exploded in the 1950s as women of the post-war generation held "Tupperware parties" at their homes to sell the containers as they sought empowerment and independence.
However, its sales slumped in recent years as the company struggled to place more of its products in retail stores and online sales platforms.
Tupperware has historically relied on independent sales representatives to move its products, but that strategy has failed to reach modern consumers, according to the company.
Tupperware last month raised doubts about its ability to remain in business after flagging bankruptcy risk several times due to liquidity constraints.