(Reuters) -Tupperware Manufacturers and a few of its subsidiaries filed for Chapter 11 chapter safety on Tuesday, succumbing to declining demand for its once-popular colourful meals storage containers and ballooning losses.

The corporate’s struggles to stem the drop in gross sales resumed after a quick surge in the course of the pandemic when folks cooked extra at house and turned to its hermetic plastic containers to retailer leftovers.

The post-pandemic leap in prices of important uncooked supplies equivalent to plastic resin, in addition to labor and freight additional dented the corporate’s margins.

In August, Tupperware (NYSE:) had raised substantial doubt about its capability to proceed as a going concern for the fourth time since November 2022 and mentioned it confronted a liquidity crunch.

The corporate listed $500 million to $1 billion in estimated belongings and $1 billion-$10 billion in estimated liabilities, in response to chapter filings within the U.S. Chapter Court docket for the District of Delaware.

Tupperware has been planning to file for chapter safety after breaching the phrases of its debt and enlisting authorized and monetary advisers, Bloomberg reported on Monday.

The report mentioned the chapter preparations started following extended negotiations with lenders over the greater than $700 million in debt.