Tupperware bankruptcy receivers in talks with potential buyers

Tupperware bankruptcy receivers in talks with potential buyers
Credit: Belga/Nicolas Maeterlinck

The bankruptcy receivers of the Tupperware in Aalst are currently in talks with three potential buyers, the Belga News Agency reported on Thursday.

In addition to the West Flemish entrepreneur Guido Dumarey, two other parties have also contacted the receivers. Over the next two weeks, they will consider whether it is possible to relaunch certain activities.

Last year, the American executives at Tupperware decided to withdraw from the Belgian market, announcing the bankruptcy of its Belgian sites. A long period of uncertainty followed. Tupperware's bankruptcy was not officially filed until Monday.

The jobs of all 270 employees were impacted. The employees will receive initial compensation through the Company Closures Fund (FSO). The final severance pay will have to come from the sale of the assets, unless a takeover is possible.

Continuing the production of items like pots and pans under the Tupperware band name is unlikely, according to the receivers as the American headquarters would have to give permission for this.

The receivers have not revealed the identity of all the potential buyers. However, it is not Ikea, a name that has been circulating in union circles. "One candidate is looking at packaging materials, another is considering a different form of plastic production. But for the time being, there is nothing concrete," said one of the receivers.

Moreover, the size of the company makes it unlikely for the operations at the site to restart. "This is a very large company with a lot of staff. You really need to have a very good financial and economic plan to get started," they say. "You can't leave this to just anyone and expect to be back in business within a few months."

The receivers expect to have clarity within two weeks about the viability of a possible takeover. If there is no concrete interest, liquidation seems inevitable. In that case, the receivers emphasise that there are sufficient assets to compensate the factory's employees, as there are no outstanding bank debts.

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