Tupperware Brands, once an iconic leader in food storage solutions, has filed for bankruptcy protection after years of declining sales and increased competition. The company announced its intention to initiate Chapter 11 proceedings in the U.S. Bankruptcy Court, citing a 'challenging' economic environment and a significant slump in demand for its products. Stock prices plummeted by 57% following the news, reflecting investor concerns over the brand's struggling revival efforts. This marks a critical juncture for Tupperware, which has been unable to adapt to changing market dynamics post-COVID and has even shut down its only U.S. factory earlier this year. The company, which gained popularity through home party sales, now faces an uncertain future as it seeks new ownership and strategies to revive its brand.