The reason for this is the expiration of licenses at the parent company in the USA. So far, 9.3 million euros in liabilities have been registered in the insolvency, of which around 3 million euros were contested. The plan was to conclude a restructuring plan with the creditors, which was to be voted on today (Thursday).

"Currently, negotiations were still ongoing for a license extension. However, this will no longer be extended. Therefore, no Tupperware products may be distributed from today. This also makes further business operations impossible," said Stephan Mazal from the creditor protection agency Creditreform on Thursday. He emphasized in a statement that it is economically incomprehensible that the license is not being extended, as Tupperware Austria could be successfully continued. Tupperware Austria was not immediately available for comment.

Creditreform: 20 Percent Quota in Doubt

The debtor is sticking to the restructuring plan and wants to pay the creditors a 20 percent quota as part of a liquidation restructuring plan, according to Creditreform, which however points out: "In the event of liquidation, the creditors essentially have the existing bankruptcy assets and the still outstanding claims from the business operations minus the further winding-up and closure costs as well as the procedural costs available as a satisfaction fund. The creditors would thus receive a distribution quota that is definitely below the offered 20 percent."

Tupperware Austria had filed for insolvency without self-administration at the beginning of October 2024. About 16 employees were affected. The group had a total of 5,450 employees in 41 countries. In addition, there were about 465,000 independent sales consultants. The company was founded in 1938 by Earl Tupper.

(APA/Red)

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