One of the nation’s most iconic brands is downsizing after a recent bankruptcy declaration. According to a report from the Orlando Business Journal, Tupperware Brands Corp. will terminate operations at its Orlando headquarters, permanently close the facility at 14901 S. Orange Blossom Trail, and lay off 145 employees effective Dec. 31.
The report comes two weeks after Tupperware named Laurie Ann Goldman its new CEO and Chairman of the Board. Tupperware is finalizing the sale of its assets to its lenders, the Ad Hoc Group. In August, the company’s restructured its debt. Stonehill Capital Management Partners and Alden Global Capital are two of the investment firms within the lender group that acquired Tupperware. Their acquisition provided $23.5 million in cash and more than $63 million in debt relief.
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