Tupperware Brands, the food storage company famous for its in-home parties, has filed for Chapter 11 bankruptcy protection. The Florida-based company said it remain in operation as it seeks court approval for a sale.

Tupperware's lenders opposed the food storage and kitchen products company's proposed bankruptcy auction during the company's first court appearance, cutting off its access to cash and threatening to derail the company's bankruptcy plans.

Tupperware is best known for its once-iconic, colorful food storage containers. Here's what we know so far after the company filed for bankruptcy.

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.

Tupperware Brands (TUP) filed for Chapter 11 bankruptcy to reorganize its debts and prevent an ad hoc group of its lenders from acquiring its business through foreclosure. "Over the last several years,

"I still have a ton of Tupperware from the early '90s. Still holds up real nice," a Reddit user wrote in the thread r/Nostalgia, to which another replied: "That’s why they’re

Tupperware Brands and its subsidiaries have filed for Chapter 11 bankruptcy in the U.S. The iconic food container company, facing severe financial challenges, is now pursuing strategic alternatives for survival.