Tupperware BrandsNYSE: TUP

Bankrupt Tupperware Brands agreed on Tuesday to sell its business to a group of lenders for $23.5 million in cash and over $63 million in debt relief, canceling its plans for an open-market auction of its assets.

Tupperware Brands Corporation on Wednesday reached a short-term deal with lenders opposed to its bankruptcy strategy, restoring the food container maker's access to cash accounts and allowing it to meet employee payroll and other upcoming expenses.

We've also got a look at what's going on with Tupperware Brands and homebuilders.

Tupperware is a name that conjures nostalgia for many. Once a staple in every household, known for its airtight, brightly colored containers, the company enjoyed decades of success.

NEW YORK--(BUSINESS WIRE)--The New York Stock Exchange (“NYSE”, the “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the common stock of Tupperware Brands Corporation (the “Company”) — ticker symbol TUP — from the NYSE. Trading in the Company's common stock will be suspended immediately. NYSE Regulation reached its decision that the Company is no longer suitable for listing pursuant to NYSE Listed Company Manual Section 802.01D after.

Tupperware, the maker of food storage containers, has filed for bankruptcy in the US.

Tupperware Brands filed for bankruptcy protection, months after the iconic American brand shut down its last remaining U.S.-based plant amid financial troubles.

Tupperware Brands, the iconic food-storage company known for its resealable plastic containers and pioneering direct-to-consumer sales, has filed for bankruptcy after years struggling with weak sales.

Tupperware Brands said on Tuesday that company and some of its subsidiaries have voluntarily initiated Chapter 11 proceedings in the United States Bankruptcy Court for the District of Delaware.