Tupperware, the popular food storage container brand from the US, and its subsidiaries filed for Chapter 11 bankruptcy protection amid sinking sales. The 78-year-old company never really recovered from a slump in their market share after a brief spell of surge during the COVID when people started to cook at home. In the last couple of years, the company tried in vain to lure a younger demographic. Tupperware warned last year that if the company failed to secure funds it would go bust. Even as its shares sank by 50% in the last week, the company is preparing to ask court permission to sell the business. Tupperware is still looking for a new owner. The company founded in 1946 by chemist Earl Tupper became a household name by pioneering saleswoman Brownie Wise with her unique ' Tupperware Parties ' sales strategy. Sold across 70 countries, the brand has had a good repute in the desi market.