Tupperware Brands plans to enter court protection

Tupperware Brands is preparing to file for bankruptcy as soon as this week, according to people with knowledge of the plans, following a years-long effort to revive the business amid waning demand.

- ELIZA RONALDS-HANNON AND RESHMI BASU

The home-goods brand, which has for much of a century defined food storage, is planning to enter court protection after it breached the terms of its debt and enlisted legal and financial advisers, said the people, who requested anonymity to discuss confidential information. The company's shares fell by more than 50 per cent as of Monday afternoon.