WASHINGTON: Tupperware Brands Corp hammered out a deal for its creditors to acquire the business, ending a dispute that’s risked a liquidation of the iconic company after a push from the federal judge overseeing the bankruptcy.
An ad-hoc group of lenders and the bankrupt firm reached an agreement-in-principle, in which the lenders will purchase the business in cash and credit, according to Spencer Winters, a lawyer representing the debtor at a Tuesday (Oct 22) hearing in Delaware.
