Tupperware, the iconic brand that was once a staple of American kitchens, filed this week for bankruptcy, citing what it called "macroeconomic challenges." Nancy Chen takes a look at the role it played in defining American innovation.

Top lenders to Tupperware Brands are trying to prevent the homeware brand from using its bankruptcy to facilitate a speedy sale.

Tupperware Brands has filed for Chapter 11 bankruptcy protection. The company that revolutionized food storage decades ago says it plans to continue operating and will seek court approval for a sale.

Tupperware's lenders opposed the food storage and kitchen products company's proposed bankruptcy auction during the company's first court appearance, cutting off its access to cash and threatening to derail the company's bankruptcy plans.

"I still have a ton of Tupperware from the early '90s. Still holds up real nice," a Reddit user wrote in the thread r/Nostalgia, to which another replied: "That’s why they’re

Tupperware Brands and its subsidiaries have filed for Chapter 11 bankruptcy in the U.S. The iconic food container company, facing severe financial challenges, is now pursuing strategic alternatives for survival.